STOPIA 2006 and TOPIA 2006

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We refer to our Circular of June 2005 advising Members that 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.