How can you say that the oversight of the operator was found wanting in this case, and then imply that the operation should be owned and regulated by the very people who failed to handle even the oversight?
Because a Govt should ensure its regulators have the requisite skills and experience - that they often don't is a weakness of politicians and the people they select to be those regulators.
Industry didn't exactly cover itself in glory - how many years have CHC failed to introduce NVG when they all knew it was the industry standard.