International Oil Pollution Compensation Funds (IOPC Funds)
Fonds internationaux d'indemnisation pour les dommages dus à la pollution par les hydrocarbures (FIPOL)
Fondos Internacionales de Indemnización de Daños Debidos a la Contaminación por Hidrocarburos (FIDAC)
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1978-10-16 London UK
Established 16 Oct 1978, London (UK), by 'International Convention on the Establishment of an International Fund for Compensation for Oil Pollution Damage, 1971', adopted at a conference convened by the then 'Inter-Governmental Maritime Consultative Organization (IMCO)', since 22 May 1982, B-XB1117 - International Maritime Organization (IMO). This Convention supplemented T-XT6933 - International Convention on Civil Liability for Oil Pollution Damage (CLC), and created the International Oil Pollution Compensation Fund 1971 (1971 Fund). The 1971 Fund Convention ceased to be in force, 24 May 2002 and consequently does not apply to incidents occurring after that date; ceased to exist 31 Dec 2014.
Both the 1969 CLC and the 1971 Fund Convention were amended by Protocols in 1976 (essentially formal amendments), 1984 (never entered into force), 1992 (in force 30 May 1996), 2000 (in force 27 Jun 2001) and 2003 (in force 3 Mar 2005). T-XT9251 - Protocol to the International Convention on Civil Liability for Oil Pollution Damage, 1992 provided for higher limits of compensation and a wider scope of application than the original versions, and led to the establishment of the International Oil Pollution Compensation Fund 1992 (IOPC Fund 1992) on 30 May 1996. A further protocol providing an even higher limit of compensation was adopted in 2003 and led to the establishment of the Supplementary Fund, Mar 2005. Together, the 1992 and Supplementary Funds form the IOPC Funds. Previously also known as: Internationale Entschädigunsfonds für Ölverschmutzungsschäden -- Fondi Internazionali di Indennizzo per i Danni Dovut All'Inquinamento Mediante Idrocarburi.
Provide compensation for oil pollution damage resulting from spills of persistent oil from tankers.
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Composed of 2 inter-governmental organizations, namely: '1992 Fund', which has an Assembly comprising 115 Member States as of 1 Jul 2019, and Executive Committee of 15 elected Member States; 'Supplementary Fund', which has an Assembly, comprising 32 Member States as of 1 Jul 2019. Administered by Secretariat, comprising Director's Office and 3 Departments: Claims; External Relations and Conference; Finance and Administration.
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