Lloyd's Maritime and Commercial Law Quarterly
INFORMATION
Limitation—new sterling equivalents
The Merchant Shipping (Sterling Equivalents) (Various Enactments) Order 1984: S.I. 1984 No. 1548 came into operation on 6th October 1984. The new sterling equivalents of the gold francs figures are as follows:
Section 1 Merchant Shipping (Liability of Shipowners and Others) Act 1958: 3,100 gold francs—£159.12.
1.0 gold francs — £51.33.
Part I of the Merchant Shipping Act 1974 and Sch. 1:
450 million gold francs—£23,097,510.
900 million gold francs—£46,195,019.
675 million gold francs—£34,646,264.
(Substitute for 450 million francs figure.)
Section 5(1) Merchant Shipping Act 1974:
1,500 gold francs —£76.99.
2,0 gold francs —£102.66.
125 million gold francs—£6,415,975.
210 million gold francs—£10,778,838.
Section 28 Unfair Contract Terms Act 1977 and para. 5 of Part II of Sch. 3 to the Merchant Shipping Act 1979—the Athens Convention:
Arresting vessels for security in arbitration proceedings
Section 26 of the Civil Jurisdiction and Judgments Act was brought into force on 1st November 1984 by the Civil Jurisdiction and Judgments Act 1982 (Commencement No. 1) Order 1984. The object of s. 26 is to enable a court in England and Wales or Northern Ireland to order that a ship under arrest (or bail) be retained as security for the satisfaction of an arbitration award. Under the previous law, the Admiralty Court would decline to exercise its discretion to issue a warrant for arrest where the purpose of the arrest is to provide security in some proceedings other than an action in rem (see The Andria now renamed Vasso [1984] Q.B. 477; [1984] 3 LMCLQ 370).
(Reprinted from Lloyd’s Maritime Law Newsletter)
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