What is the scope of the Protocol of 2003 to the International Convention on the Establishment of an International Fund for Compensation for Oil Pollution Damage?

The Protocol of 2003 to the International Convention on the Establishment of an International Fund for Compensation for Oil Pollution Damage is an agreement that extends and expands the scope of liability for oil pollution damages. This Protocol seeks to expand the protection of maritime areas and human life threatened by oil pollution damage. The Protocol provides for compensation for both economic and environmental losses caused by oil pollution, including compensation for response costs and damage to natural resources. Under this Protocol, compensation is based on the size of the vessel and the nature of the pollutant. The Protocol also provides for the establishment of an International Fund for Compensation for Oil Pollution Damage to provide for compensation for pollution when an owner or insurer cannot provide for such compensation. The scope of the Protocol of 2003 also includes a system for collecting and distributing compensation from the International Fund for Compensation for Oil Pollution Damage. This system includes companies that are liable for oil pollution, oil spill response facilitators, and other organizations that provide services related to oil pollution compensation. It also includes environmental protection agencies and other entities responsible for the investigation, assessment, and legal proceedings related to determining damages from oil pollution. The Protocol of 2003 provides a comprehensive system for responding to oil pollution and establishing accountability for the pollution of maritime areas, protecting human life and the environment. It seeks to ensure that the individuals and organizations responsible for oil pollution are held accountable and that those who suffer due to their actions receive adequate compensation.

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What is the scope of the Protocol of 2003 to the International Convention on the Establishment of an International Fund for Compensation for Oil Pollution Damage?

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