The Minister for Justice this evening published the Defamation Bill which will provide for the establishment of an independent press council.
Mr McDowell said the legislation would also allow for the new defence of "fair and reasonable publication on a matter of public importance".
The Bill will also allow for the "offer of apology shall not be construed as an admission of liability". Under the current legal system this is effectively precluded.
Plaintiffs and defendants will also be required to submit a sworn affidavit verifying assertions and allegations. If the case goes to trial, both would have to make themselves available for cross examination.
Defamation proceedings will have to be brought within one year, unless a longer period is considered to be in the interest of justice.
The new Bill will see the torts of libel and slander would disappear to be replaced by the tort of defamation.
The reform of the current 1961 Defamation Act is long overdue," said the Minister. "Plaintiffs should have a better sense of their rights under the law," he said.
Mr McDowell admitted that no exact definition of privacy has been included in the new Bill but stated it included a range of defences to recognise the vital role of bonafide news gathering.
He believed the laws do not favour either the public or the media, but gives greater protection to both parties. The Press Council will be independent from the state, consisting of 13 directors representing the media and public. "It tilts the balance in favour of fairness," said Mr McDowell.
The National Union of Journalists welcomed the long awaited publication of the Bill. Irish Secretary Séamus Dooley said: "While we wish to consider the detailed provisions of the Bill we welcome the measures reforming our oppressive libel laws.
"At long last the libel laws are being reformed and at long last the public will have a forum for seeking redress without incurring high legal costs. Journalists have nothing to fear from an independent press council which is representative of all the main players in the newspaper industry, including the NUJ."
We have been working for almost three years as part of the Press Industry Steering Committee on developing a model which would be acceptable to the media and would win the confidence of the public."