The Carriage by Air (Revision of Limits of Liability under the Montreal Convention) Order 2009
This Order certifies the revised limits of liability established under the Montreal Convention 1999. The revision of the limits was accomplished under Article 24 of that Convention. Article 24 provides that the limits of liability are to be reviewed by the International Civil Aviation Organisation (ICAO) at five-year intervals by reference to an inflation factor which corresponds to the accumulated rate of inflation since the date of entry into force of the Convention. In the absence of disapproval by a majority of State Parties the revised limits become effective six months after their notification to State Parties by ICAO. The limits are expressed in Special Drawing Rights (SDR), a unit of account established by the International Monetary Fund. The SDR is defined as a basket of currencies, today consisting of the euro, Japanese yen, pound sterling and U.S. dollar.