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 onwards, 5.16%.