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 25th annual General Meeting of Members held on the 2nd June,2009 in Kunming,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, 2009, these Rules in respect of the cover under Rule 5 shall be effected on and from zero hour Beijing time on the 1st January, 2009.