Hong Kong Regulations

MERCHANT SHIPPING (LIMITATION OF SHIPOWNERS LIABILITY) (RATE OF INTEREST) ORDER - SECT 1

Rate of interest for purposes of limitation fund

Caution: This is a past version. See the current version here.

The rate of interest to be applied for the purposes of paragraph 1 of Article
11 of the Convention on Limitation of Liability for Maritime Claims, 1976 is-

   (a)  from 16 January 1987 to 30 April 1987, 7.5%;

   (b)  from 1 May 1987 to 5 November 1987, 6%;

   (c)  from 6 November 1987 to 5 May 1988, 7.38%;

   (d)  from 6 May 1988 to 5 October 1989, 5.89%;

   (e)  from 6 October 1989 to 14 June 1990, 11.09%;

   (f)  from 15 June 1990 to 25 July 1991, 10.24%;

   (g)  from 26 July 1991 to 30 April 1992, 9.74%;

   (h)  from 1 May 1992 to 22 October 1992, 8.72%;

   (i)  from 23 October 1992 to 27 July 1995, 7.48%;

   (j)  from 28 July 1995 to 11 June 1998, 8.82%;

   (k)  from 12 June 1998 to 30 May 2002, 9.91%;

   (l)  from 31 May 2002 to 17 November 2005, 5.16%; (L.N. 203 of 2005)

   (m)  from 18 November 2005 to 23 February 2006, 6.55%; (L.N. 203 of 2005;
        L.N. 27 of 2006)

   (n)  from 24 February 2006 to 31 August 2006, 7.38%; (L.N. 27 of 2006; L.N.
        184 of 2006)

   (o)  from 1 September 2006 to 27 December 2007, 7.96%; (L.N. 184 of 2006;
        L.N. 242 of 2007)

   (p)  from 28 December 2007 to 13 March 2008, 7.45%; (L.N. 242 of 2007; L.N.
        56 of 2008)

   (q)  from 14 March 2008 onwards, 6.76%. (L.N. 56 of 2008)