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The Merchant Shipping (Convention on Limitation of Liability for Maritime Claims) (Amendment) Order 1998
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This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Merchant Shipping (Convention on Limitation of Liability for Maritime Claims) (Amendment) Order 1998 No. 1258
ARTICLE 8Unit of Account
The Unit of Account referred to in Articles 6 and 7 is the special drawing right as defined by the International Monetary Fund. The amounts mentioned in Articles 6 and 7 shall be converted into the national currency of the State in which limitation is sought, according to the value of that currency at the date the limitation fund shall have been constituted, payment is made, or security is given which under the law of that State is equivalent to such payment.
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