Revision of the Paris Convention and the Brussels Supplementary Convention

The Paris Convention and the Brussels Supplementary Convention have in substance remained unchanged since their adoption in 1960 and 1963, respectively. During that period, nuclear industry and technology have developed considerably while the financial and monetary bases of the Conventions have been shattered. The amounts of liability and compensation have been eroded by inflation, and the gold-based unit of account in which these amounts are expressed has lost its original meaning after the abolition of the official gold price. The question of revising the Conventions, in particular of raising those amounts and of replacing the unit of account, is therefore being studied by the Group of Governmental Experts on Third party Liability in the Field of Nuclear Energy of the OECD Nuclear Energy Agency. (auth.)