Navigation (Limitation of Shipowners' Liability) Regulations (Amendment) (Cth)

Statutory Rules 1985 No. 3181

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Navigation (Limitation of Shipowners’

Liability) Regulations2 (Amendment)

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council and pursuant to section 4 of the Acts Interpretation Act 1901,hereby make the following Regulation under the Navigation Act 1912.

Dated 21 November 1985.

N. M. STEPHEN

Governor-General

By His Excellency’s Command,

Peter Morris

Minister of State for Transport

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Conversion into Australian currency

Regulation 5 of the Navigation (Limitation of Shipowners’ Liability) Regulations is amended—

(a) by omitting from sub-regulation (1) “the franc” and substituting “the units of account”;

(b) by omitting from paragraph (1) (a) “15 francs are” and substituting “one unit of account is”;

(c) by omitting from paragraph (1) (b) “at the official rate of exchange” and substituting “on the basis of the value of the Australian dollar”; and

 

(S.R. 294/85)—Cat. No.  11/16.10.1985

(d) by omitting paragraph (2) (b) and substituting the following paragraph:

“(b) a reference to the value of the Australian dollar on a day is a reference to the value of the Australian dollar in terms of special drawing rights calculated in accordance with the method of valuation applied by the International Monetary Fund in effect on that day for its operations and transactions; and”.

 

NOTES

1. Notified in the Commonwealth of Australia Gazette on 28 November 1985.

2. Statutory Rules 1981 No. 2 as amended by Statutory Rules 1985 No. 317.

Printed by Authority by the Commonwealth Government Printer