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SCHEDULES

SCHEDULE 3Provisions to be inserted as Schedule 5A to the Merchant Shipping Act 1995

Chapter VIFINAL CLAUSES

Winding up of the HNS Fund

Article 52

1If this Convention ceases to be in force, the HNS Fund shall nevertheless:

(a)meet its obligations in respect of any incident occurring before this Convention ceased to be in force; and

(b)be entitled to exercise its rights to contributions to the extent that these contributions are necessary to meet the obligations under (a), including expenses for the administration of the HNS Fund necessary for this purpose.

2The Assembly shall take all appropriate measures to complete the winding up of the HNS Fund including the distribution in an equitable manner of any remaining assets among those persons who have contributed to the HNS Fund.

3For the purposes of this article the HNS Fund shall remain a legal person.