Exhaust heat shield.... vital?

[Beer Jammer]

Hi all.
Just returned from a trip away and on the way home my yaris develops a tinny rattle. A quick inspection underneath shows that the heat shield above the the middle box on the exhaust has come loose.
The points on the shield where it bolts to the car have corroded. Is this shield a vital safety measure or am I ok to not get it replaced?
I couldnt see anything vital it was protecting, none of the break lines or fuel lines are in that area.

[eTiMaGo]

most aftermarket headers require it to be removed anyway, and I have not heard of any horror stories associated with that, so I'd say go ahead! just be careful if you need to stick your hands back there for whatever reason!