Abstract
Abstract The current international regime regulating global limitation of liability for maritime claims is based on the 1976 Convention on Limitation of Liability for Maritime Claims (LLMC Convention) as amended by the 1996 Protocol thereto. This Protocol, in an effort to promote expediency, introduced an efficient system for the updating of the limits of liability through the adoption of a tacit acceptance procedure. In accordance with this procedure, and based on an Australian proposal, the International Maritime Organization (IMO) Legal Committee adopted new limits of liability for maritime claims through Resolution LEG.5(99) of 19 April 2012. This paper thus outlines the limits of liability set out in the 1996 LLMC Protocol and then discusses briefly the new limits of liability adopted by the Legal Committee through the tacit acceptance procedure. The paper also highlights the outstanding issues which are yet to be discussed by the Legal Committee in its future work.
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