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Amendment of section 21 (extent of liability of Fund) of Act of 1988.
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7.—(1) Section 21 of the Act of 1988 is amended—
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(a) in subsection (1) (inserted by section 11(a) of the Act of 1998) by substituting “203,000,000 units of account” for “135 million units of account” in both places where it occurs,
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(b) in subsection (2) (inserted by section 11(b) of the Act of 1998)—
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(i) by substituting “203,000,000 units of account” for “135 million units of account”, and
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(ii) by substituting “300,740,000 units of account” for “200 million units of account”.
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(2) Section 21 of the Act of 1988 is further amended by substituting the following for subsections (3) to (5):
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“(3) Where the Fund incurs a liability under this Act and the amount specified in subsection (1) is exceeded, the Supplementary Fund shall, subject to subsection (4), be liable for any excess over that amount.
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(4) Where the Supplementary Fund incurs a liability under this Act in respect of pollution damage in the State, the aggregate amount of compensation payable in respect of any one incident shall not exceed 750,000,000 units of account.
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(5) Where the amount of established claims against the Supplementary Fund exceeds the aggregate amount of compensation payable under subsection (4), the amount available shall be distributed in such a manner that the proportion between any established claim and the amount of compensation actually recovered by the claimant by virtue of the Supplementary Fund Protocol shall be the same for all claimants.
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(6) Where pursuant to Article 24 of the Supplementary Fund Protocol the amount specified in subsection (4) is duly amended by increasing the amount, then the Minister shall, if satisfied that the amount has been duly increased, make an order giving the new increased amount the force of law. The Minister shall specify in the order a date, not earlier than its coming into force internationally in accordance with that Protocol, when the increased aggregate amount of compensation in relation to the Supplementary Fund comes into force in the State.
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(7) Subject to subsection (1) the Fund shall, in respect of any amount of compensation for pollution damage paid by the Fund under this Act, acquire by subrogation any rights that the person so compensated may enjoy under this Act against the owner of the ship or the guarantor.
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(8) Subject to subsection (4) the Supplementary Fund shall, in respect of any amount of compensation for pollution damage paid by the Supplementary Fund under this Act, acquire by subrogation any rights that the person so compensated may enjoy under this Act against the owner of the ship or the guarantor.
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(9) In this section—
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‘aggregate amount of compensation’ means, in relation to any one incident, the maximum amount of compensation payable by the Fund or the Supplementary Fund in respect of pollution damage arising out of the incident, by virtue of the application of any one or more of the following:
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(a) this Act,
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(b) the law of a Convention Country,
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(c) the Fund Convention,
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(d) the Supplementary Fund;
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‘combined amount of compensation’ means, in relation to any one incident, the amount of compensation paid by a person other than the Fund or the Supplementary Fund in respect of pollution damage arising out of the incident, and the aggregate amount of compensation.”.
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