Paragraph 1

In Schedule I to the Order:

(1)

In section 4—

(a)

for the words “2,000 gold francs” and “210 million gold francs” in subsection (1)(b) there shall be substituted respectively the words “133 special drawing rights” and “14 million special drawing rights”; and

(b)

subsections (3) to (5) shall cease to have effect.

(2)

In section 5, after subsection (2) there shall be inserted the following subsection—

“(2A)

A payment into court of the amount of a limit determined in pursuance of this section shall be made in dollars and—

(a)

for the purposes of converting such an amount from special drawing rights into dollars the Monetary Authority may specify in dollars the respective amounts which are to be taken as equivalent for a particular day to the sums expressed in special drawing rights in section 4 of this Act;

(b)

a certificate given by or on behalf of the Monetary Authority in pursuance of paragraph (a) above shall be conclusive evidence of those matters for the purposes of this Act;

(c)

a document purporting to be such a certificate shall, in any proceedings, be received in evidence and, unless the contrary is proved, be deemed to be such a certificate.”

(3)

For the purposes of sections 10(2) and 11(1) references in Article VII of the International Convention on Civil Liability for Oil Pollution Damage signed in Brussels in 1969 to Article V of the Convention shall be construed as references to Article V as amended by Article II of the protocol dated 19th November 1976 to the Convention; and in section 14(2) for the words “Article V thereof” there shall be substituted the words “Article V of the Convention as amended by Article II of the protocol dated 19th November 1976 to the Convention”.