Amendment of compensation limits for oil pollution2.

(1)

The Merchant Shipping Act 1995 is amended as follows.

(2)

In section 157 (limitation of liability for oil pollution by tankers), in subsection (2)—

(a)

in paragraph (a), for “three million” substitute “4.51 million”;

(b)

in paragraph (b)—

(i)

for “three million” substitute “4.51 million”;

(ii)

for “420” substitute “631”;

(iii)

for “59.7 million” substitute “89.77 million”.

(3)

In Part 1 of Schedule 5 (text of paragraphs 4 and 5 of Article 4 of the Fund Convention), in the text of paragraph 4—

(a)

in sub-paragraphs (a) and (b), for “135 million” substitute “203 million”;

(b)

in sub-paragraph (c), for “200 million” substitute “300.74 million”.