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Friday, September 21, 2018

IMO'S LEGAL COMMITTEE ADOPTS RESOLUTION FOR MAXIMUM POSSIBLE INCREASES IN 1992 CLC & FUND CONVENTIONS LIMITATION AMOUNTS

At the 82nd session of the IMO's Legal Committee, on 18 October 2000, the Committee adopted by consensus resolutions which provided for the maximum possible increases in the limits of liability permissible under the 1992 Protocol of the International Convention on Civil Liability for Oil Pollution Damage 1969 and the 1992 Protocol to the International Convention on the Establishment of an International Fund for Compensation for Oil Pollution Damage, 1971.

This was done under the tacit amendment procedure laid down in these conventions. The Legal Committee gave special priority to this item in view of its importance to the maritime community.

The effect of this resolution is that the increased limits will take effect from 1 May 2002, provided that the requisite number of contracting states do not object to the resolution. The maximum possible levels of limitation of liability will be:

CLC - 89,770,000 SDR (USD 115.34 million)

Fund – 203,000,000 SDR (USD 260.81 million)

Furthermore the Committee has made provision that priority will be given and sufficient time will be allocated to any review of measures proposed by the Assembly of the International Oil Pollution Compensation Fund.  For further information please contact John Fawcett-Ellis:

 john.fawsett-ellis@intertanko.com