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P&I (CLASS 3) / PART VII / RULE 38
REINSURANCE AND POOLING
38.1 Individual Ships
The Managers may reinsure on behalf of the Association the whole or any part of the risks arising in connection with any Entered Ship or Ships on such terms and with such reinsurers as the Managers shall consider appropriate.
38.2 Risks of the Association
The Managers may reinsure or cede on behalf of the Association the whole or any part of the risks of the Association (including any risk which may arise under the Pooling Agreement) with such reinsurers and on such terms as the Managers shall consider appropriate.
38.3 Pooling Agreement
The Association may continue to be a party to the Pooling Agreement or to any other agreement of a similar nature or purpose.
38.4 Retained Risks
The Board may, in its discretion, reinsure or cede on behalf of the Association, with such reinsurers and on such terms as the Board shall consider appropriate, the whole or any part of the risks or liabilities of the Association which are or might be payable out of any General Reserve which has been or might be established under Rule 39.1 General Reserve.