Is iopc under imo ?

8.72 K
FOLLOW

No
- The 1992 Fund is governed by an Assembly composed of representatives of the Governments of all its Member States. The Assembly holds an ordinary session once a year. It elects an Executive Committee made up of 15 Member States. The main function of the Executive Committee is to approve the settlement of claims for compensation.
- The Supplementary Fund has its own Assembly which is composed of all States that are Members of that Fund whereas the 1971 Fund, which is in the process of being wound up, has an Administrative Council which is composed of all former Member States.
- Organisations connected with the maritime transport of oil, such as those representing shipowners, marine insurers and the oil industry, as well as environmental organisations, are represented as observers at the IOPC Funds’ meetings. Decisions by the IOPC Funds’ governing bodies are, however, taken solely by the representatives of the Governments of the Member States.
- The 1992 Fund Assembly appoints the Director of the IOPC Funds, who is responsible for the operation of the three Funds and has extensive authority to take decisions regarding the settlement of claims. The Funds have their headquarters in London and are administered by a joint Secretariat.