Republic Acts1 min read
Section 11June 02, 2007, Sec./Art. 11
Personal notes Saved on this device
0 / 5,000 charactersReport page issue
Answer First
Primary Text
Constitution of a fund. - For the purpose of availing himself of the benefit of limitation provided for under Section 10 of this Act following the occurrence of a particular Incident, the Owner shall be required to constitute a fund for the total sum representing the limit of his liability with the Maritime Industry Authority (MARINA) to cover Incidents causing Pollution Damage: Provided That any claim for compensation from Pollution Damage shall be brought directly to the Regional Trial Courts (RTC) .
The fund can be constituted by depositing the sum or by producing a bank guarantee or other financial guarantee acceptable under existing laws and considered to be adequate by the Department of Transportation and Communications (DOTC) .
CHAPTER IV
SYSTEM OF COMPULSORY INSURANCE AND CERTIFICATION
Use With Care
Definitions and exceptions often appear before or after this text.
Court decisions may interpret, limit, or apply this provision.
Confirm amendment, repeal, effectivity, and official publication.