Hon Speaker, on behalf of the ANC, I would like to indicate that we opted for this option that is ridiculed as an apartheid option. The reality of the matter is that this is not an apartheid option. This is an option that is provided for in article 14 of the international convention, the one that the Portfolio Committee on Transport, as well as the relevant select committee in the NCOP, has dealt with.
We are opting for this because, firstly, we think this particular approach carries the following advantages. In the event of litigation, it will be between Sars and the ship owner or oil importer, and not with international entities in a South African court. We think that this will give us enough space to handle our issues internally. We do not question our capacity.
Secondly, it provides the advantage that there will be a high degree of security for the fund as Sars will pay, and there will be no risk of defaulting by a private ship owner or oil importer, bringing stability at an international level as we contribute to this compensation fund. As the ANC, we are not going to be tempted into cheap politicking. We think this is an option that is here to ensure that we comply with international standards. We are fully behind this Bill. Thank you. [Applause.]
Bill read a first time.