Answar these Questione Assignment Example | Topics and Well Written Essays - 500 words

Answar these Questione - Assignment Example This led to the development of the 1992 Civil Liability Convention and the 1992 Fund Convention. These two provide a wider range of  application  on  various  aspects, as well as more flexible limits of compensation than the previous versions of the convention (The Secretariat of the International Oil Pollution Compensation Funds, 2004). Any  individual  who has received more than 150 000 tonnes of crude oil, as well as  heavy  oil in one year, and is in a member state of the 1992 Fund Convention is  liable  to contribute to the fund. However, the levy of these contributions depends on reports of oil receipts with regards to  individual  contribution. The fact that the receiver could be a company owned by a state, a government agency, or a private company is a significant determinant of applying the  levy (International Oil Pollution Compensation Funds, 2009). According to the Gard Group (2011), member states need to report to the Fund Convention the name and address of any liable person to contribute and the  amount  of contributing oil they receive in that state, yearly. The only exceptions to reporting to the Fund Convention  are associated  persons such as subsidiaries and  commonly  controlled entities. In addition, the Fund levies annual contributions to its members who  pay  a certain amount per tonne of contributing oil they  receive, so as to meet the projected expenses of the coming year (The Secretariat of the International Oil Pollution Compensation Funds, 2004). In the 1992 Fund, there was a  protocol  adopted in 2003 that gave way to the establishment of the third tier of compensation on 3 March 2005, through the Supplementary Fund. The provision of the Supplementary Fund the  limitation  to paying for compensation for pollution  damage  for only the incidents that occur after the state in question accepts the Protocol. Notably, being a member of the Supplementary Fund is not a must and any