CHARTERERS' LIABILITY INSURANCE / PART VI / Clause 4

SANCTIONS

Notwithstanding and without prejudice to any other provision of the Certificate of Insurance, these Charterers’ Insurances Terms & Conditions and the provisions of the Articles of Association, the Certificate of Insurance and/or these Charterers’ Insurances Terms & Conditions may, on such notice as the Association may in its discretion decide, be amended at any time (including with effect during the course of a Policy Period) to such extent as the Association may in its discretion determine is necessary as a result of the potential or actual implementation of or change in any Sanction, prohibition, restriction, legislation, regulation or requirement to obtain any licence or approval, by any state, international or supranational organisation or other competent authority.