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P&I (CLASS 3) / PART II / RULE 9
PERIOD OF INSURANCE
9.1 Attachment and Contribution
Unless otherwise agreed at the time of entry and subject as otherwise provided in these Rules, the insurance shall begin at the time on the date stated in the Certificate of Entry when the Member first has an interest in the Entered Ship or, in the case of a change in the terms of entry, immediately after 24:00:00 UTC on that date at the place where the Ship is located and shall continue until 12:00:00 UTC on 20 February next following. All Contributions shall be calculated as if the entry of the Ship or change in the terms of entry had taken place at 12:00:00 UTC on the date stated in the Certificate of Entry.
9.2 Change of Conditions
The insurance shall continue for the next Policy Year on the same terms and conditions as those in force for the current Policy Year, unless at the request of a Member other terms shall be agreed, or unless:
9.2.1 notice shall have been given in writing by either the Member to the Managers or the Managers to the Member not later than 12:00:00 UTC on 20 January in any year, that the insurance (not being for a fixed period) specified in the notice is to cease. In either event the insurance shall cease at the end of the then current Policy Year; or unless
9.2.2 the Managers shall have given notice not later than 12:00:00 UTC on 20 January that the terms of the insurance by the Association for the next following Policy Year are to be changed. In the event of such notice being given, the insurance for the next following Policy Year shall continue on such terms as may be agreed between the Member and the Managers before 12:00:00 UTC on 20 February immediately following such notice and, if no terms shall by then have been agreed, the insurance shall thereupon cease.
9.2.3 PROVIDED ALWAYS THAT:
9.2.3.1 if before 20 December in any year the Managers give notice of a decision of the Board under Rule 11.1.1 the Member shall be deemed to have agreed to and accepted such decision and the insurance shall continue for the next Policy Year unless by 20 January following the Member gives notice to the Managers under Rule 9.2.1; or
9.2.3.2 if the Managers give notice of an alteration in the Rules of the Association before the end of a Policy Year the Member shall be deemed to have agreed to and accepted such alteration and the insurance shall continue for the next Policy Year with the alteration taking effect from the start of that Policy Year.
9.3 Notice of Termination of Cover by Board or Managers
The Board or Managers may at any time by 30 days’ notice to a Member terminate the entry of any Ship in this Class.
9.4 Prohibition of Withdrawal
An Entered Ship shall not be withdrawn from the Association at any time or in any manner except under the provisions of Rule 9.2 Change of Conditions or with the consent of the Board or Managers.