Rule 24 Termination by the Association

The Association may terminate the entry with effect from the end of the Policy Year in respect of one or more Ships by giving written notice thereof prior to 20th January.

The Association may also terminate the insurance of any or all of the Ships entered by a Member:

1. without notice, where a casualty or other event has been brought about by wilful misconduct on the part of the Member, as defined in Rule 72;

2. on three days' notice, where the Member has failed to pay when due and demanded any Estimated Total Call, Supplementary Call or other amount due to the Association;

3. on 14 days' notice, where the Member has neglected a duty of disclosure under Rule 6 or Rule 7 or where there has been an alteration of the risk after the conclusion of the contract of insurance;

4. on 45 days' notice, without giving any reason.

Notwithstanding and without prejudice to Rules 24.1 and 24.2 and Rule 25.4, the Association may, on such notice in writing as the Association may decide, terminate the entry in respect of any and all Ship(s) in circumstances where the Member has exposed or may, in the opinion of the Association, expose the Member or the Association and/or its Agent to the risk of being or becoming subject to any sanction, prohibition or adverse action in any form whatsoever by the State of the Ship(s) flag, by any State where the Association and/or its Agent has its registered office or permanent place of business or by the United Nations, the European Union, the United Kingdom or the United States of America.