Contributions to the International Oil Pollution Compensation (IOPC) Fund.
Section 15
SEC. 15. Contributions to the International Oil Pollution Compensation (IOPC) Fund. - Any person who has received more than one hundred fifty thousand (150,000) tons of contributing Oil in a calendar year in all ports or terminal installations in the Philippines through carriage by sea, shall pay contributions to the International Oil Pollution Compensation (IOPC) Fund in accordance with the provisions of the 1992 Fund Convention. A person shall be deemed to have received contributing Oil, for contribution purposes, if he received the same: From another country; or From another port or terminal installation within the Philippines, notwithstanding that it had already been previously received by him. Where the quantity of contributing Oil received by any person in the Philippines in a calendar year, when aggregated with the quantity of contributing Oil received in the Philippines in that year by its subsidiary or affiliate corporation, exceeds one hundred fifty thousand (150,000) tons, said person, including its subsidiaries, shall pay contributions in respect of the actual quantity received by each, notwithstanding that the actual quantity received by each did not exceed one hundred fifty thousand (150,000) tons.