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Merchant Shipping Act 1995
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- UK Public General Acts
- 1995 c. 21
- SCHEDULE 5A
- Chapter VI
- Winding up of the...
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Merchant Shipping Act 1995 is up to date with all changes known to be in force on or before 25 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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U.K.[F1 Winding up of the HNS Fund
Textual Amendments
F1Sch. 5A inserted (17.7.1997) by 1997 c. 28, s. 14(2), Sch. 3; S.I. 1997/1539, art. 2, Sch.
Article 52U.K.
1. If this Convention ceases to be in force, the HNS Fund shall nevertheless:
(a) meet its obligations in respect of any incident occurring before this Convention ceased to be in force; and
(b) be entitled to exercise its rights to contributions to the extent that these contributions are necessary to meet the obligations under (a), including expenses for the administration of the HNS Fund necessary for this purpose.
2. The Assembly shall take all appropriate measures to complete the winding up of the HNS Fund including the distribution in an equitable manner of any remaining assets among those persons who have contributed to the HNS Fund.
3. For the purposes of this article the HNS Fund shall remain a legal person.]
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