Ley 257 de 1996 | Ley 257 de 1996 — Colombia law | Esheria

Ley 257 de 1996

This preamble explains that the law approves an international convention and protocol creating a fund for compensation for oil-pollution damage.

Jurisdiction
Colombia
Instrument
Act or statute
Citation
Ley 257 de 1996
Version
Undated source snapshot
Language
es
Updated
Official source
View official record ↗
administrative organization annual reporting asset distribution associated persons definition board powers board/assembly procedure certified copies claims administration claims against fund claims deadlines claims handling claims limits claims recovery committee composition committee functions compensation compensation claims compliance compliance timing contract effectiveness contribuciones contribution calculation contributions convocatoria extraordinaria +63 more

Statute overview

About this statute

This preamble explains that the law approves an international convention and protocol creating a fund for compensation for oil-pollution damage. This article defines key terms used in the convention, including the liability convention, hydrocarbons, crude oil, fuel-oil, unit terms, guarantor, terminal installation, and incident date. The Convention creates an international compensation fund for oil pollution damage and requires each contracting state to recognize the Fund’s legal personality and its Director as legal representative. This article limits the Convention’s scope to certain pollution damages and related preventive measures. El Fondo debe indemnizar a las víctimas de daños por contaminación cuando no hayan recibido una compensación plena y adecuada, pero hay varias exenciones, límites de pago y reglas sobre reparto; además, la Asamblea del Fondo puede modificar el tope de 450 millones de francos.

LexChat organizes source-backed legal information for research. Verify amendments, commencement, and current legal force with the official publisher before relying on it.