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Criteria for fixing reward.
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26.—(1) The reward payable by virtue of this Part shall be fixed by the arbitrator or judge in the arbitral or judicial proceedings concerned with a view to encouraging salvage operations after taking into account such and so many of the following criteria as are appropriate in the circumstances:
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(a) the salved value of the vessel and other property;
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(b) the skill and efforts of the salvors in preventing or minimizing damage to the environment;
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(c) the measure of success obtained by the salvor;
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(d) the nature and degree of the danger;
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(e) the skill and efforts of the salvors in salving the vessel, other property and life;
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(f) the time used and expenses and losses incurred by the salvors;
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(g) the risk of liability and other risks run by the salvors or their equipment;
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(h) the promptness of the services rendered;
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(i) the availability and use of vessels or other equipment intended for salvage operations;
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(j) the state of readiness and efficiency of the salvor's equipment and the value thereof.
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(2) (a) The payment of a reward in accordance with subsection (1) shall, subject to paragraph (b) of this subsection, be made by all of the vessel and other property interests in proportion to their respective salved values.
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(b) The payment of the reward shall in the first instance be made in full by one of the property interests concerned nominated by the salvor, subject to a right of recourse of that property interest against the other interests for their respective shares.
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(3) Every reward payable by virtue of this Part shall not exceed an amount equal to the salved value of the vessel and of the other property concerned but, in calculating such amount for the purposes of this subsection, it shall be calculated exclusive of any interest and recoverable legal costs that may be payable thereon.
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(4) Nothing in this section shall be construed so as to prevent any right of defence in proceedings by an interested party concerned.
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