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(1) Subject to this section, no action shall be brought to enforce a claim or lien against a ship or the owners of the ship in respect of a damage to or loss of another ship, her cargo or freight, or any property on board, or in respect of loss of life or personal injury suffered by a person on board that other ship, caused by the fault of the ship, whether that other ship is wholly or partly at fault unless proceedings are commenced within two years from the date when the damage or loss or injury was caused.

(2) An action shall not be brought under this Act to enforce a contribution in respect of an overpaid proportion of damages for loss of life or personal injury unless proceedings are commenced within one year from the date of payment.

(3) A court may in accordance with the rules of court extend any period on such conditions as it thinks fit and shall do so, if satisfied that during the period there has not been a reasonable opportunity to arrest the defendant ship within the jurisdiction of the court or within the territorial seas of the country to which the plaintiff resides or has a principal place of business.