TNAG-2513-FCO40-3666-Future-of-Hong-Kong-International-Rights-and-Obligations-(IR-1992 — Page 56

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5

11.

The Fund Convention encourages prevention of oil

pollution by providing incentives for shipowners to comply

with international safety standards.

compensation

limits of the Fund

The higher maximum

Convention over the

Liability Convention also

allows the port of Hong Kong a

higher

limit

to

recover

from the

Fund

the

costs

of

preventive and clean-up action and consequential damage in

the

of event

oil an

escape

in

conversion

difficulties,

By removing Hong Kong.

the 1976 Protocol improves on the

operation of the Fund Convention.

Proposal

12.

The British side proposes that the Fund Convention

and the 1976 Protocol should continue to apply to the Hong

Kong SAR after 30 June 1997 in accordance with the Joint

Declaration. The PRC is not a party to the Fund Convention

Protocol thereto. It will be necessary for the CPG

Parties and all Contracting present

or

to

the

indicate to all

Governments which may become parties before 1 July 1997,

that all the international rights and obligations arising

from the Convention and Protocol, to the extent that they apply to Hong Kong, will be assumed by the CPG with effect from 1 July 1997 and apply to the HKSAR of the PRC.

will

further

It

be

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