Small Tanker Oil Pollution Indemnification Agreement 2006 (STOPIA 2006) & Tanker Oil Pollution Indemnification Agreement (TOPIA) 7 February 2006 No.05-013 We refer to our previous circular No.04-012 of 29 November 2004 entitled "Small Tanker Oil Pollution Indemnification Agreement (STOPIA)" and circular No.04-016 of 25 February 2005 entitled "Small Tanker Oil Pollution Indemnification Agreement-No.2" advising Members that the Boards of all International Group Clubs had agreed to put in place a binding contractual agreement, known as STOPIA (Small Tanker Oil Pollution Indemnification Agreement), which has the effect of increasing the minimum limit of liability for smaller tankers under the 1992 Civil Liability Convention (CLC 92) to SDR 20 million. STOPIA operates by indemnifying the 1992 Fund for the difference between a tanker's limit of liability under CLC 92 and SDR 20 million. STOPIA took effect on March 3rd 2005 in recognition of the additional compensation obligation placed on oil receivers by the Supplementary Fund Protocol 2003 and in order to demonstrate shipowners' support for the successful compensation scheme established by the 1992 CLC and Fund Conventions. When the 2003 Protocol came into force in March 2005, the Working Group which was set up by the 1992 Fund Assembly in 2001 in order to examine the possible need for revision of the 1992 Conventions had not been able to reach any clear consensus and the issue was therefore referred back to the Fund Assembly. The IOPC Fund Assembly met in October 2005 to consider whether or not to proceed with revision of the 1992 Civil Liability and Fund Conventions and made the following decisions:- That there was insufficient support to continue the revision process which will now be removed from the Assembly's agenda. The Working Group set up to consider revision will be disbanded. The proposal made by International Group Clubs with the authorization of Club Boards shortly before the meeting to put in place a b