The Northern Secretary, Dr Mo Mowlam, last night hailed "a once in a lifetime opportunity" for Northern Ireland politicians to reclaim "the reins of power". She was publishing the Bill enacting the dual British-Irish commitments to inclusive devolution and paramilitary decommissioning.
But the indications at Westminster were that the Bill - to effect The Way Forward proposals agreed by the British and Irish governments - will meet fierce unionist and Conservative opposition when it comes before the Commons and the House of Lords later today and tomorrow. The Ulster Unionist leader, Mr David Trimble, emerged from a one-hour meeting with the Prime Minister, Mr Blair, at 10 Downing Street last night, saying only that he had "continuing problems" and that his party would be tabling amendments. The Conservative front bench, too, was drafting amendments to the Bill, which one party source described as "absolutely awful", amid speculation that the Conservatives might try to delay its passage in the Lords.
The legislation must complete all its stages by tomorrow night, in anticipation of a meeting of the Stormont Assembly on Thursday intended to trigger the d'Hondt process for the appointment of ministers and the creation of the power-sharing executive.
Under the Bill, "default" arises if parties fail to meet their obligations on devolution, or on decommissioning as defined in the joint British-Irish statement and as directed by the International Commission. It provides the mechanism for automatic and immediate suspension of the executive and Assembly, and suspension of the North-South Ministerial Council, the British-Irish Council and (after some time) the cross-Border implementation bodies.
However, there were indications that the legislation is unlikely to be a decisive influence on the final decision of the Ulster Unionists. While attention will be on today's Commons debate, Mr Ken Maginnis and other senior colleagues will resume talks with Irish ministers and officials in Dublin.
UUP sources remained tight-lipped about the ongoing dialogue with Dublin. However, the party is clearly maintaining pressure through the Taoiseach for a clear statement from the IRA about its attitude to decommissioning ahead of Thursday.
After a week of hype and speculation, three things seemed immediately clear last night after publication of the "failsafe" Bill. It makes no provision for the exclusion of any party from office, beyond that which already exists in the terms of the Belfast Agreement. It does not affect the separate legislative arrangements which cover the programme of prisoner releases, and any future change in the composition of the Northern Ireland executive could be secured only on the basis of the existing provisions for cross-community support.
There will almost certainly be Sinn Fein and nationalist concern about one apparent concession to Mr Trimble. The Bill allows the Secretary of State to call two meetings of the Northern Ireland Assembly in the event of suspension: one to debate but not vote on the situation leading to suspension and the matters to be reviewed in accordance with the provisions of the Belfast Agreement, and the other to debate and vote on any proposed action resulting from the review.
In Dublin, a Government spokesman declined to comment on the draft legislation last night, noting that it had been published to meet parliamentary deadlines and that amendments were likely. The spokesman also repeated Dublin's view that no Irish legislation was required at this stage, but that the Dail would be recalled if it was considered necessary.
He was responding to a claim from the Fine Gael leader, Mr John Bruton, that the Belfast Agreement could not be suspended "solely by Westminster legislation".
Mr Bruton added: "If a failsafe mechanism is to be legally valid and institutionally balanced, it has to be in legislation passed in the Dail as well as Westminster."