S.L. 234.16 Art. 13Constitution of limitation fund.

(1) For the purposes of Article 11 of the Convention, the fund therein referred to shall be constituted with the Civil Court,

First Hall.

fund by paying into court the equivalent in Euros of the number of Special Drawing Rights to which he claims to be entitled to limit his liability in terms of these regulations together with interest thereon from the date of the occurrence giving rise to his liability to the date of payment into court.

(4) Where the person claiming limitation does not know the Euros equivalent of the said number of Special Drawing Rights on the date of payment into court, he may calculate the same on the basis of the latest available published Euro equivalent of a Special Drawing Right as fixed by the International Monetary Fund, and in the event of the Euro equivalent of a Special Drawing Right on the date of payment into court under subregulation (3) being different from that used for calculating the amount of that payment into court, the person claiming limitation -

(a) shall make up any deficiency by making a further payment into court which, if made within fourteen days after the payment into court under subregulation (3), shall be treated as if it had been made on the date of that payment into court, or

(b) may apply to the court for the refund of any excess amount paid into court under subregulation (3).

(5) An application under subregulation (4)(b) shall be supported by evidence proving the Euro equivalent of the appropriate number of Special Drawing Rights on the date of payment into court.

(6) On making any payment into court under this regulation, the person claiming limitation shall give notice thereof in writing to every person making a claim against him, specifying the date of payment in, the amount paid in, the amount of interest included therein and the period to which it relates.

(7) The person claiming limitation shall also give notice in writing to every person making a claim against him, of any excess amount paid out to him under subregulation (4)(b).