Grenada was elected to the 15-member Executive Committee of the International Oil Pollution Compensation Funds (IOPC), for a second time, during the Annual Meetings currently taking place in London from October 15-19.
Representing Grenada at the meeting were, High Commissioner to London, Ruth Rouse and Feona Sandy, First Secretary, High Commission for Grenada.
Grenada became a member of IOPC in 1998 and was the first Caribbean State to be elected to the Executive Committee on October 24, 2003.
The International Oil Pollution Compensation Funds (IOPC Funds) are part of an international regime of liability and compensation for oil pollution damage caused by oil spills from tankers.
Under the regime, the owner of a tanker is liable to pay compensation up to a certain limit for oil pollution damage following an escape of persistent oil from his ship.
If that amount does not cover all the admissible claims, further compensation is available from the 1992 Fund if the damage occurs in a State which is a Member of that Fund.
Additional compensation may also be available from the Supplementary Fund if the State is a Member of that Fund as well.
The 1992 Fund has an Assembly composed of all 108 Member States and an Executive Committee elected by the Assembly.
The main function of the Executive Committee is to approve settlements of claims for compensation in cases where the Director of the IOPC Funds is not authorised to make such settlements.
As a member of the Executive Committee, Grenada will be directly involved in the decision-making process, in particular, the treatment of claims for damage from oil pollution which are not otherwise covered by the IOPCF’s Claims Manual.
The Executive Committee also recommends revisions of the limits for compensation for oil pollution damage.