Section 1
The Owners who have entered ships for insurance in the Association
in respect of any policy year (not being a policy year closed in
accordance with Rul e 18) otherwise than on terms that a fixed premium
shall be payable in respect of such ship, shall provide by way of
Calls to be levied from such Owners all funds which in the opinion
of the Directors are required:
A.
To meet such of the general expense of the Associations as the Directors
may from time to time think fit to charge against the insurance
business of the Association in respect of such policy year.
B.
To meet the claims, expenses and outgoings (whether incurred, accrued
or anticipated) of the insurance business of the Association in
respect of such policy year.
C.
To meet the catastrophe claims or contribution thereof.
D.
For contingency, catastrophe or other reserves of the Association
according to Rule 17.
E.
For such sum as the Directors may think proper to meet any deficiency
which hasoccurred or may be thought likely to occur in any closed
policy year or years.
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