CONFIDENTIAL
2
3.
Compensation
from the Fund will be available to
victims of oil pollution damage who are unable to obtain
the Liability
any ΟΙ
Convention,
adequate compensation
under
except in certain circumstances such as war,
hostilities, or malicious or negligent acts of the person
who suffered damage (Article 4).
4.
any
one
The aggregate amount of compensation payable for
Liability Convention and the
under incident
the
Fund Convention together is limited to 450 million francs.
The
compensation payable by the Fund in cases of pollution
damage caused
by
natural
phenomenon
of
an exceptional,
inevitable and irresistible nature is similarly set not to
exceed
450
million
francs.
provides for victims of oil
compensation
The Fund Convention
thus
pollution to receive higher
than that provided in the Liability Convention
(210
million
francs).
The Assembly of the Fund has the
authority
to
increase the aggregate amount of compensation
payable
from 450 to 900 million francs.
This authority was
exercised on 20 April 1979, when the amount was increased
to 675 million francs (Article 4).
5.
Apart
from compensating victims of oil pollution
damage, the Fund also indemnifies the ship owner for the
amount of liability under thẹ Fund Convention which is in
excess
of the
limits
stipulated
in
the
Liability
Convention,
but only if the
shipowner has complied with
CONFIDENTIAL
A