I.   Interpretation

1.  “The Association” means China Shipowners Mutual Assurance Association.

2.  “Member” means a member for the time being of the Association.

3.  “Register of Members” means the Register of Members for the time being maintained by the Association.

4.  “The Bye-Laws” means the Bye-Laws for the time being of the Association. 

5.  “The Rules” means the Rules from time to time in force governing the conduct of the whole or any part of the business of the Association. 

6.  “Board” means the Board of Directors elected at any General Meeting of Members of the Association.

7.  “The Director” means the member of the Board for the time being.

8.  “Chairman” means the Chairman of the Board.

9.  “Managers” means the Managers for the time being conducting day-to-day affairs of the Association.

10. “Managing Director” means the Managing Director in charge of the affairs of the Managers.

11. “Secretary” means the Secretary of the Association for the time being.

12. “Ship” means ship, boat, hovercraft or any other description of vessel or     structure entered or proposed to be entered in the Association (including any ship, boat, hovercraft or other description of vessel or structure under construction) used or intended to be used for any purpose whatsoever in navigation or otherwise on, under, over or in water or any part thereof or any proportion of the tonnage thereof or any share therein.

13.“Tonnage” means the gross registered tonnage of a ship as certified in the Certificate of Registry of such ship or in any other official documents relating to the registration of such ship.

14. “Entered Tonnage” means the tonnage figure recorded as entered tonnage in the Certificate of Entry/Endorsement Slip of an entered ship.

15. “Insurance” means any insurance or reinsurance.

16. “Owner” in relation to an entered ship means owner, owners in partnership, owners holding separate shares in severalty, part owner, mortgagee, trustee, charterer, operator, manager or builder of such ship and any other person (not being an insurer reinsured under Rule 13 of the Rules) named in the Certificate of Entry or Endorsement Slip, by or on whose behalf the same has been entered in the Association whether he be a Member of the Association or not.

17.“Reserves” means the Reserve Fund established and maintained in accordance with the laws and regulations of the People’s Republic of China or the decisions of the Board.

18.“Year, Month and Date” means, unless otherwise specifically stated, calendar year, month and date.

19.“Notice” means any written notice (e.g. letter, telegraph, telex, fax, etc.) unless otherwise specifically stated.

20. “May” shall be construed as permissive. “Shall” shall be construed as imperative.

21.  “Person(s)”, words importing person(s) shall also include companies or associations or bodies of persons whether corporate or unincorporated.