Soon to be
Rule 31 Cancellation for Non-Payment
Without prejudice to the generality of these Rules:
Where the Club has required an Insured Owner to pay under the terms of entry and these Rules any Contribution, Additional Premium, Premium or interest, and the Insured Owner has not paid the same in full within the time permitted by the Club, the Managers may give the Insured Owner notice in writing:
Requiring him to pay such amount by any date specified in such notice, not being less than fourteen days from the date on which the notice is given, and
Informing him that if he fails to pay such amount in full on or before the date so specified, his insurance in respect of the Entered Ship or Ships relating to which payment of that amount was required, and also, if the Managers so specify, his insurance in respect of any and all other ships entered in the Board by him or on his behalf, shall be cancelled forthwith without any further notice or formality.
If an Insured Owner fails to comply with the requirements set out in any notice issued by the Managers in accordance with Rule 31.1, that Insured Owner’s insurance shall be cancelled as specified in such notice, notwithstanding that the amount payable by the Insured Owner to the Board, as referred to in the notice, related only to one, or to more than one but not to all, of the Entered Ships in respect of which the Insured Owner’s insurance is cancelled.
Cancellation as provided in Rule 31 shall operate independently of and separately from any cancellation which may be effected or which may occur by virtue of any other provisions of these Rules.
An Insured Owner’s insurance may be cancelled as provided in Rule 31 irrespective of whether that insurance is current on the date of the cancellation or has ceased by virtue of the provisions of Rule 30 or has ceased, been terminated or cancelled in accordance with any other provisions of these Rules.