Analysis of the permitting processes associated with exploration of Federal OCS leases. Final report. Volume II. Appendices Page: 160 of 282
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(No. )
CERTIFICATE
U. S. Coast. Guard
Offshore Oil Pollution Compensation Fund
Certificate of Financial Responsibility
(For Offshore Facilities)
WHEREAS by Section 305(b) of Title III of an act of Congress
approved September 18, 1978, entitled "Outer Continental Shelf Lands
Act Amendments of 1978" (43 U.S.C. 1811 et. seq.), the owner or
operator of an offshore facility which (1) is used for drilling for,
producing, or processing oil, or (2) has the capacity to transport,
store, transfer, or otherwise handle more than one thousand barrels
of oil at any one time, is required to establish and maintain, in
accordance with regulations promulgated by the President, evidence of
financial responsibility sufficient to satisfy the maximum amount of
liability to which the owner or operator of such facility would be
exposed in a case where he would be entitled to limit his liability
in accordance with the ,provisions of section 304(b) of that title, or
$35,000,000, whichever is less;
- AND WHEREAS by Executive Order 12123, signed by the President-on
February 26, 1979, the authority vested in the President by section
305(b) of that act was transferred to and vested in the Secretary of
Transportation, and further delegated by the Secretary to the
Commandant, United States Coast Guard by section 1.46(z) of Title 49
Code of Federal Regulations;
AND WHEREAS. under Subpart C of Part 135 of Title 33, Code of
Federal Regulations, an owner or operator of an offshore facility is
required to submit for approval evidence of financial responsibility
in the amount of $35,000,000 to the Fund Administrator, Offshore Oil
Pollution Compensation Fund, acting for and on behalf of the
Commandant, United States Coast Guard, before placing such offshore
facility into operation or coverage becomes effective;
AND WHEREAS (name of applicant) has
submitted evidence of financial responsibility in the amount of
$35,000,000 for the offshore facility identified on application
number and located onC-9
EXHIBIT 5
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Analysis of the permitting processes associated with exploration of Federal OCS leases. Final report. Volume II. Appendices, report, November 1, 1980; United States. (https://digital.library.unt.edu/ark:/67531/metadc1184664/m1/160/: accessed July 16, 2024), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; crediting UNT Libraries Government Documents Department.