Resolutions, Regulations and Other Documents
The operation of the IOPC Funds is governed by the 1992 Fund Convention and the Supplementary Fund Protocol. In order to implement the Conventions, the Funds’ governing bodies have adopted or approved a number of resolutions, regulations and other documents.
Assembly resolutions are formal expressions of the opinion or will of its Member States. The preamble of each resolution generally presents the considerations on the basis of which action is taken, an opinion expressed or a directive given. The operative part states the opinion of the organ or the action to be taken. Resolutions have been adopted separately the 1992 Fund and the Supplementary Fund.
Rules of Procedure of the governing bodies
These are the internal organisational and operational rules of the governing bodies. They set out the rules and operational procedures by which the governing bodies meet. Rules of Procedure have been established separately for the 1992 Fund and the Supplementary Fund.
These regulations govern the internal operational rules of the Funds mainly with respect to contributions, reports of contributing oil receipts, claims and claims settlement, intervention in legal proceedings and delegation of authority and compensation for claims from incidents. Internal regulations have been established separately for the 1992 Fund and the Supplementary Fund.
These regulations govern the financial rules of the Funds mainly in respect to budgetary matters, management of monies, investment of assets, internal control and the preparation and audit of the Funds’ financial statements. The regulations provide for both internal and external oversight of the Funds’ finances and assets. Financial regulations have been established separately for the 1992 Fund and the Supplementary Fund.
The 1992 Fund administers the joint Secretariat of the IOPC Funds based in London, United Kingdom. The relationship between the 1992 Fund and the Host State is governed by a Headquarters Agreement, which was originally concluded in 1996 between the Government of the United Kingdom of Great Britain and Northern Ireland and the 1992 Fund. It defines the status, privileges and immunities of the 1992 Fund and persons connected with it to enable the 1992 Fund to fully and efficiently discharge its responsibilities and fulfil its purposes and functions. A revised Agreement was signed at the IOPC Funds Headquarters in London on 23 March 2022. A separate Headquarters Agreement is in place in respect of the Supplementary Fund. That Agreement was also signed on 23 March 2022.
Staff Regulations and Rules
These embody the fundamental conditions of service and the basic rights, duties and obligations of the staff members of the Secretariat. They represent the broad principles of human resources policy for the staffing and administration of the Secretariat. The Staff Regulations are approved and adopted by the Assembly of the 1992 Fund.