CHINA SHIPOWNERS MUTUAL ASSURANCE ASSOCIATION

THE RULES

The Rules shall always be subject to the Bye-Laws of the Association.

The Rules were agreed and adopted in the 27th annual General Meeting of Members held on the 20th May, 2011 in Changchun, China.

These Rules in respect of the cover under Rule 3 and Rule 4 shall be effected on and from 12 hours Greenwich Mean Time (G.M.T.) on the 20th February, 2011, these Rules in respect of the cover under Rule 5 shall be effected on and from zero hour Beijing time on the 1st January, 2011.