TNAG-2513-FCO40-3666-Future-of-Hong-Kong-International-Rights-and-Obligations-(IR-1992 — Page 54

relevant safety

CONFIDENTIAL

conventions and if the pollution does not

result from the

wilful misconduct

(Article 5).

of the owner himself

6.

the Fund

The Fund

Convention provides for contributions to

by persons who have received oil in the territory

contracting party in excess of 150,000 tons annually

10). Procedures are stipulated for the assessment

of a

(Article

of contributions (Article 11).

The Protocol

7.

The

1976

Protocol to

the Fund

Convention

was

concluded at London on 19 November 1976 (text at Annex B)

The Protocol is not yet in force.

8.

The

1976

Protocol aims

at

overcoming

the

difficulties

The amended

of converting gold-franc ("Poincare francs" in

the Fund Convention) into national currencies. version provides for expressing the limitation amounts in

units based on Special Drawing

International

Monetary

Rights as defined by the

Fund (IMF).

•

For the convenience of

those contracting parties which are not members of the IMF and whose laws do not permit the use of Special Drawing

Rights, the 1976 Protocol provides for the use of "monetary

units" based on gold.

CONFIDENTIAL