--(1) The claimant may constitute a limitation fund by paying into court the Trinidad and Tobago dollar equivalent of the number of special drawing rights to which he claims to be entitled to limit his liability under Part XVIII of the Act together with interest thereon from the date of the occurrence giving rise to his liability to the date of payment into court.
--(2) Where the claimant does not know the Trinidad and Tobago dollar equivalent of the said number of special drawing rights on the date of payment into court he may calculate the same on the basis of the latest available published Trinidad and Tobago dollar equivalent of a special drawing right as fixed by the International Monetary Fund, and in the event of the Trinidad and Tobago dollar equivalent of a special drawing right on the date of payment into court under paragraph (1) being different from that used for calculating the amount of that payment into court the claimant may-
----(a) make up any deficiency by making a further payment into court which, if made within 14 days after the payment into court under paragraph (1), shall be treated, except for the purposes of the rules relating to the accrual of interest on money paid into court, as if it had been made on the date of that payment into court; or
----(b) apply to the court for payment out of any excess amount (together with any interest accrued thereon) paid into court under paragraph (1).
--(3) An application under paragraph (2)(b) may be made without notice.
--(4) It must, however, be supported by evidence proving the Trinidad and Tobago dollar equivalent of the appropriate number of special drawing rights on the date of payment into court.
--(5) On making any payment into court under this rule, the claimant shall give notice thereof in claiming to every defendant, specifying the date of payment in the amount paid in, the amount of interest included therein, the rate of such interest and the period to which it relates.
--(6) The claimant must also give notice in claiming to every defendant of any excess amount (and any interest thereon) paid out to him under paragraph (2)(b).
Notes
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