Decision ID: 002453

In October 1995 the 1971 Fund Assembly expressed its general agreement with the proposals by the Director vis-à-vis the joint administration of the 1971 Fund and the 1992 Fund. The 1971 Fund Assembly agreed with the Director that it was essential to ensure consistency between the decisions of the 1992 Fund and those of the 1971 Fund on the admissibility of claims for compensation and endorsed the Director’s proposed draft Resolution to be considered by the 1992 Fund Assembly regarding the 1971 Fund’s policy on the admissibility of claims for compensation. The 1971 Fund Assembly also agreed with the views expressed by the Director on a number of issues relating to the application of the 1992 Fund Convention. It was noted that any positions taken by the 1971 Fund Assembly in respect of the structure or operation of the 1992 Fund were only proposals, and that any decisions on these issues would have to be taken by the 1992 Fund Assembly. The 1971 Fund Assembly instructed the Director to prepare revised documents in the light of the discussions at the October 1995 session and any further observations by Member States and to present to the Secretary-General of IMO any document prepared by him for submission to the 1st session of the 1992 Fund Assembly. It was noted that in view of the close link that would exist between the 1971 Fund and the 1992 Fund, the 1971 Fund Assembly would be called upon to take certain decisions in the light of decisions taken by the 1992 Fund Assembly at its first session. The 1971 Fund Assembly therefore decided to hold an extraordinary session during the same week as the 1st session of the 1992 Fund Assembly and agreed a tentative list of issues to be placed on the agenda.