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17.1

The insurance of any Entered Ship may be terminated in the following manner:

17.1.1

The Managers in their discretion and without giving any reason may give a written notice of termination to any Insured Owner not later than noon G.M.T. on the 20th January in any year.

17.1.2

An Insured Owner in his discretion and without giving any reason may give a written notice of termination to the Association not later than noon G.M.T. on the 20th January in any year.

17.2

If a notice shall have been given pursuant to Rule 17.1, the period of insurance shall terminate at noon G.M.T. on the 20th February immediately following such notice. Save with the agreement of the Managers, an Entered Ship may not be withdrawn from the Association nor may any notice of termination be given at any other time.

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