duties and powers

duties and powers Sec. 403. (a) In carrying out the provisions of this title, the Secretary shall— (1) prescribe, and from time to time amend, regulations for the filing, processing, and fair and expeditious settlement of claims pursuant to this title, including a time limitation on the filing of such claims; and (2) identify and classify all potential hazards to commercial fishing caused by Outer Continental Shelf oil and gas exploration, development, and production activities, including all obstructions on the bottom, throughout the water column, and on the surface. (b) The Secretary of the Interior shall establish regulations requiring all materials, equipment, tools, containers, and all other items used on the Outer Continental Shelf to be properly color coded, stamped, or labeled, wherever practicable, with the owner’s identification prior to actual use. (c)(1) Payments shall be disbursed by the Secretary from the appropriate area account to compensate commercial fishermen for actual and consequential damages, including loss of profits, due to damages to, or loss of, fishing gear by materials, equipment, tools, containers, or other items associated with oil and gas exploration, development, or production activities in such area, whether or not such damage occurred in such area. (2) Notwithstanding the provisions of paragraph (1) of this subsection, no payment may be made by the Secretary from any area account established under this title— (A) when the damage set forth in a claim was caused by materials, equipment, tools, containers, or other items attributable to a financially responsible party; 92 STAT. 688 (B) to the extent that damages were caused by the negligence or fault of the commercial fisherman making the claim; (C) if the damage set forth in the claim was sustained prior to the date of enactment of this title; (D) in the case of a claim for damage to, or loss of, fishing gear, in an amount in excess of the replacement value of the fishing gear with respect to which the claim is filed; (E) in the case of a claim for loss of profits (i) for any period in excess of 6 months, and (ii) unless such claim is supported by records with respect to the claimant’s profits during the previous 12-month period; and (F) for any portion of the damages claimed with respect to which the claimant has or will receive compensation from insurance.