5.2 LIMITATION OF LIABILITY
1-275 Like much of maritime legislation, limitaion, or the ability of the shipowner to cap his financial liability, has commercial roots that are succinctly put in the preamble to. The Responsibility of (British) Shipowners' Act of 1933. It is
"..of the greatest consequence and importance to this kingdom to promote and increase the number of ships and vessels, to prevent any discuragement to merchants which will necessarily tend to prejudice the trade and navigation of this kingdom