CLASS 8, THE FREIGHT, DEMURRAGE AND DEFENCE CLASS ____________________ NOTICE IS HEREBY GIVEN that a SEPARATE MEETING of the MEMBERS OF CLASS 8, THE FREIGHT, DEMURRAGE AND DEFENCE CLASS, of the Association will be held at the REGISTERED OFFICE of the Association, 50 LEMAN STREET, LONDON, E1 8HQ at 12.15 p.m. on WEDNESDAY, 24th JANUARY 2001, or as soon thereafter as the meeting of Class 5 called for that day is finished, for the purpose of altering and adding to the Rules. The following alterations and additions together with such further alterations and additions, if any, as may be proposed will be submitted for adoption with or without modification and with effect from noon G.M.T. on the 20th day of February 2001. [New wording is in bold. The explanatory notes in italics will not appear in the actual Rules.] RULE 27TERMINATION UPON SALE, LOSS, ETC. 27.1Unless otherwise agreed by the Association in writing, any contract of insurance in respect of any Member’s interest in an entered ship shall terminate (together with the entry of that ship in respect of that interest) upon the happening of any of the following events: 27.1.1the Member parting with or assigning his interest in the ship whether by bill of sale or other formal document or in any other way whatsoever; 27.1.2the ship becoming a an actual total loss or is accepted by the Hull Underwriters as being a constructive, compromised or arranged total loss, save as regards the liabilities, costs and expenses resulting directly from the casualty which has given rise to such actual total loss or which are incurred as a result of measures taken with the Association’s approval for the purpose of avoiding or minimising any such liabilities. 27.1.3in the case of an alleged constructive total loss of the ship, the acceptance by Hull Underwriters of notice of abandonment, the tendering of which must be immediately notified to the Association in writing; 27.1.4 the ship being missing for ten days from the date she was last heard of or from her being posted at Lloyd’s as missing, whichever shall be the earlier. - 2 27.2The Association may terminate any contract of insurance in respect of any Member’s interest in an entered ship (together with the entry of that ship) upon there being any change in the management or operation of the entered ship. [This Rule has been amended so that the entry of a ship shall terminate when it becomes an actual, constructive or compromised total loss, although cover will continue in respect of liabilities, costs and expenses resulting directly from the casualty or which are incurred as a result of measures taken with the Club’s approval for the purpose of avoiding or minimising any such liabilities. It is proposed that Rule 27.1.3 should be deleted because, in practice, hull underwriters seldom accept a shipowners’ notice of abandonment of his vessel.] By Order of the Committee, A. BILBROUGH & CO. LTD. (Managers) 20 December 2000 8:064