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Rule 36 Sums Due to the Association for the Purpose of Application of the Rules on Cesser of Insurance

36.1

For the purpose of determining whether any (and if so, what) sum is due for the purposes of Rule 35.1 or otherwise under these Rules, no account shall be taken of any amount due or alleged to be due by the Association to the Insured Owner on any ground whatever, and no set-off of any kind, including set-off which might otherwise have arisen by reason of the bankruptcy, winding-up or administration of the Insured Owner, shall be allowed against such sum (whether or not any setoff against Contributions or Premiums has been allowed at any time in the past), except to the extent (if any) to which any sum demanded by the Managers as due, and required by the Managers to be paid, may in the Managers’ discretion in itself have already allowed for a set-off or credit in favour of the Insured Owner.

36.2

Without prejudice to the generality of Rule 45, no act, omission, course of dealing, forbearance, delay or indulgence of any kind by or on behalf of the Association nor the granting of time, nor the acceptance by the Association (whether express or implied) of liability for, or the recognition of, any claim, and whether occurring before or after any date of cessation as hereinbefore referred to shall derogate from the effect of Rules 33 to 36.1 inclusive or be treated as any waiver of any of the Association’s rights thereunder.

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