Document ID: chunk:federal_register_of_legislation:C2016C00871:schedule:2:p1
Version: federal_register_of_legislation:C2016C00871
Segment Type: schedule
Provision Reference: sch 2 (pt 1/3)
Character Range: 89560–92398

Schedule 2—Protocol to the International Convention on the Establishment of an International Fund for Compensation for Oil Pollution Damage 1971
Section 3

THE PARTIES TO THE PRESENT PROTOCOL,

HAVING CONSIDERED the International Convention on the Establishment of an International Fund for Compensation for Oil Pollution Damage, done at Brussels on 18 December 1971;

HAVE AGREED AS FOLLOWS:
ARTICLE I

For the purpose of the present Protocol:

1. "Convention" means the International Convention on the Establishment of an International Fund for Compensation for Oil Pollution Damage, 1971.

2. "Liability Convention" has the same meaning as in the Convention.

3. "Organization" has the same meaning as in the Convention.

4. "Secretary‑General" means the Secretary‑General of the Organization.
ARTICLE II

Article 1, paragraph 4 of the Convention is replaced by the following text:

"Unit of Account" or "Monetary Unit" means the unit of account or monetary unit as the case may be, referred to in Article V of the Liability Convention, as amended by the Protocol thereto adopted on 19 November 1976.
ARTICLE III

The amounts referred to in the Convention shall wherever they appear be amended as follows:
    (a) Article 4:
         (i) "450 million francs" is replaced by "30 million units of account or 450 million monetary units";
         (ii) "900 million francs" is replaced by "60 million units of account or 900 million monetary units".
    (b) In Article 5:
         (i) "1,500 francs" is replaced by "100 units of account or 1,500 monetary units";
         (ii) "125 million francs" is replaced by "8,333,000 units of account or 125 million monetary units";
         (iii) "2,000 francs" is replaced by "133 units of account or 2,000 monetary units";
         (iv) "210 million francs" is replaced by "14 million units of account or 210 million monetary units";
    (c) In Article 11, "75 million francs" is replaced by "5 million units of account or 75 million monetary units".
    (d) In Article 12, "15 million francs" is replaced by "1 million units of account or 15 million monetary units".
ARTICLE IV

1. The present Protocol shall be open for signature by any State which has signed the Convention or acceded thereto and by any State invited to attend the Conference to Revise the Unit of Account Provisions in the International Convention on the Establishment of an International Fund for Compensation for Oil Pollution Damage, 1971, held in London from 17 to 19 November 1976. The Protocol shall be open for signature from 1 February 1977 to 31 December 1977 at the headquarters of the Organization.

2. Subject to paragraph 4 of this Article, the present Protocol shall be subject to ratification, acceptance or approval by the States which have signed it.

3. Subject to paragraph 4 of this Article, this Protocol