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Protocol of 2003 to the 1992 International Fund for Compensation for Oil Pollution Convention (Supplementary Fund Protocol)
Treaty Code:
M2018-02
Treaty Type:
Multilateral
Common Name:
The Supplementary Fund
Responsible Department:
Transport
Administering Department:
Treaty Status:
In Force
Treaty Summary:
The International Oil Pollution Compensations (IOPC) has a series (or tiers) of funds set up to provide financial compensation for oil tanker spills. It has three tiers. New Zealand is already party to the first two tiers. The third tier, the Supplementary Fund Protocol provides a level of compensation over and above that available under the 1992 Fund Convention. New Zealand’s accession to the Supplementary Fund would mean that New Zealand would be eligible for additional compensation for oil tanker spills. This would provide total compensation up to around $1.392 billion (including the first two levels) that New Zealand has acceded to. It is funded the same way as the second tier. The Supplementary Fund works on a pay as you go basis, where levies on oil importers are only collected when there is a need to pay compensation in the event of a major oil spill in a signatory country, rather than being built-up by regular annual levies.
NZ Adherence Status:
In Force
Adherence Type:
Acceded to
Signature Date:
29/09/2018
Adherence Date:
Expired:
No
Date Concluded:
16/05/2003
Place Concluded:
London
Entry Into Force Date:
03/03/2005
NZ Entry Into Force Date:
29/09/2018
Termination Date:
Withdrawal Date:
Withdrawal Notification Date:
NZ Objections:
No
NZ Reservations:
No
NZ Declarations:
No
NZ Territorial Applications:
None
NZTS Number:
UNTS Number:
Associated Treaties:
Other References:
Treaty Text Link:
Parties:
Contact Information:
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