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Merchant Shipping Act 1981

Consolidated Text As Enacted Cited authorities 13 Cited in Amendments 15 Related
Vincent
JurisdictionUK Non-devolved
Citation1981 c. 10
Year1981
(1) Section 503 of the (2) The amounts per ton to be taken into account under subsection (1) (i) and (ii) of the said section 503 shall, instead of being amounts respectively equivalent to 3,100 and 1,000 gold francs, be amounts respectively equivalent to 206.67 and 66.67 special drawing rights.if a limitation action is brought, on the date on which the limitation fund is constituted; andin any other case, on the date of the judgment in question.(4) The amount per ton to be taken into account under section 2 of the the words from “or section two” to the end of paragraph (b) shall be omitted; andfor the words “and the number by which the amount substituted by paragraph (a) of this subsection is to be mutiplied” there shall be substituted the words “ the number by which the amount equivalent to 206.67 special drawing rights is to be multiplied ”.(6) In section 5 of the said Act of 1958 (release of ship where guarantee given in Convention country) “the Convention” shall mean the Convention there mentioned with or without the amendments made by the Protocol referred to in subsection (1) above and “Convention country” shall be construed accordingly.(1) In section 1 of the (2) In consequence of the said Protocol of 1979 Article IV of the Rules set out in the Schedule to that Act shall be amended in accordance with the following provisions.for the words “the equivalent of 10,000 francs” there shall be substituted the words “ 666.67 units of account ”;for the words “30 francs per kilo” there shall be substituted the words “ 2 units of account per kilogramme ”.(4) For paragraph 5 (d) of that Article there shall be substituted—
  • (d) The unit of account mentioned in this Article is the special drawing right as defined by the Internatinal Monetary Fund. The amounts mentioned in sub-paragraph (a) of this paragraph shall be converted into natinal currency on the basis of the value of that currency on a date to be determined by the law of the Court seized of the case
.The unit of account mentioned in this Article is the special drawing right as defined by the Internatinal Monetary Fund. The amounts mentioned in sub-paragraph (a) of this paragraph shall be converted into natinal currency on the basis of the value of that currency on a date to be determined by the law of the Court seized of the case(5) In its application by virtue of the said Act of 1971 paragraph 5(d) of the said Article IV shall have effect as if the date there mentioned were the date of the judgment in question.(6) In its application by virtue of the said Act of 1971 Article X of the Rules set out in the Schedule to that Act shall have effect as if references to a contracting State included references to a State that is a contracting State in respect of the Rules without the

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