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

Answar these Questi cardinal - Assignment ExampleThis led to the development of the 1992 Civil Liability Convention and the 1992 Fund Convention. These two provide a wider range ofapplicationonvariousaspects, as well as more flexible limits of compensation than the previous versions of the convention (The Secretariat of the International oil colour Pollution Compensation Funds, 2004).Anyindividualwho has received more than 150 000 tonnes of crude oil, as well asheavyoil in one year, and is in a member state of the 1992 Fund Convention is conceivableto contribute to the fund. However, the levy of these contributions depends on reports of oil receipts with regards toindividualcontribution. The fact that the liquidator could be a comp some(prenominal) owned by a state, a government agency, or a private company is a significant determiner of applying thelevy (International Oil Pollution Compensation Funds, 2009).According to the Gard Group (2011), member states need to report to the F und Convention the name and address of any liable person to contribute and theamountof contributing oil they receive in that state, yearly. The only exceptions to reporting to the Fund Conventionare associatedpersons such as subsidiaries and commonlycontrolled entities. In addition, the Fund levies annual contributions to its members whopaya certain amount per tonne of contributing oil theyreceive, so as to meet the projected expenses of the approach shot year (The Secretariat of the International Oil Pollution Compensation Funds, 2004).In the 1992 Fund, there was aprotocoladopted in 2003 that gave way to the establishment of the threesome tier of compensation on 3 March 2005, through the Supplementary Fund. The provision of the Supplementary Fund thelimitationto paying for compensation for pollution injurefor 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