Subject to subsection (2) the liability of the carrier in respect of loss of, or damage to, goods, whether caused directly or indirectly by the act, neglect or default of the carrier or not, is limited to the sum of $10.00 per pound.

Liability of the carrier is limited to the declared value of goods except when the passenger:

• Has declared a value of the goods in an amount exceeding $10.00 per pound, and
• Has paid an additional charge of $10.00 per $100.00 or fraction thereof for the excess amount