View Russia / Ukraine conflict updates here

44.1

The Directors shall meet as often as they may consider necessary for the settlement of claims which shall be paid by the Association as the Directors may determine in accordance with these Rules and the Directors shall have power from time to time to authorise the Managers, without prior reference to the Directors, to effect payment of claims of such types and up to such sums as the Directors may determine. No Director shall act as such in the settlement of any claim in which he is interested.

44.2

Wherever any discretion or power is granted to the Directors under these Rules, and notwithstanding any provision in these Rules or the Articles to the contrary, the Directors shall in exercising any such discretion or power with respect to any matter in any way affecting insurance against Queen’s Enemy Risks or the recovery of any claim in respect thereof have regard to or take into account or act in accordance with the views or wishes or requirements of the Secretary of State and the Association may by agreement with the Secretary of State bind the Directors not to exercise such discretions or powers without the consent of the Secretary of State and in such circumstances the discretions and powers shall not be exercised by the Directors without such consent.

44.3

Representatives of the Secretary of State shall be entitled to attend all meetings of Directors at which and to the extent that any matter relating to the insurance of Queen’s Enemy Risks is considered.

Contents


Search this rulebook

You are currently offline. Some pages or content may fail to load.