Decision ID: 002237

In October 1982 the 1971 Fund Assembly considered a proposal by the Bahamas delegation that the Assembly should adopt an interpretation of Article 10 of the 1971 Fund Convention to the effect that oil received in a Contracting State into storage tanks for the purpose of re-exportation without processing should not be considered as ‘received’. The Assembly decided that the present text of Article 10 did not allow such an interpretation and suggested that the Bahamas delegation propose an amendment to Article 10 to the Legal Committee of the International Maritime Organization (IMO), which was at the time discussing the revision of the 1969 Civil Liability and the 1971 Fund Conventions.