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Marine Liability Act

Version of section 101 from 2003-01-01 to 2010-01-01:

Marginal note:Claimants entitled to interest

  •  (1) Interest accrues on a claim under this Part against an owner of a ship, the owner’s guarantor, the Ship-source Oil Pollution Fund or the International Fund at the rate prescribed under the Income Tax Act for amounts payable by the Minister of National Revenue as refunds of overpayments of tax under that Act in effect from time to time.

  • Marginal note:Time from which interest accrues

    (2) Interest referred to in subsection (1) accrues

    • (a) if the claim is based on paragraph 51(1)(a), from the day on which the oil pollution damage occurred;

    • (b) if the claim is based on paragraph 51(1)(b) or (c),

      • (i) in the case of costs and expenses, from the day on which they were incurred, or

      • (ii) in the case of loss or damage referred to in that paragraph, from the day on which the loss or damage occurred; or

    • (c) if the claim is for loss of income under section 88, from the time when the loss of income occurred.

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