Amendment of compensation limits for oil pollution2
1
The Merchant Shipping Act 1995 is amended as follows.
2
In section 157 (limitation of liability for oil pollution by tankers), in subsection (2)—
a
in paragraph (a), for “three million” substitute “4.51 million”;
b
in paragraph (b)—
i
for “three million” substitute “4.51 million”;
ii
for “420” substitute “631”;
iii
for “59.7 million” substitute “89.77 million”.
3
In Part 1 of Schedule 5 (text of paragraphs 4 and 5 of Article 4 of the Fund Convention), in the text of paragraph 4—
a
in sub-paragraphs (a) and (b), for “135 million” substitute “203 million”;
b
in sub-paragraph (c), for “200 million” substitute “300.74 million”.