CLASS 5, THE PROTECTING AND INDEMNITY CLASS ____________________ NOTICE IS HEREBY GIVEN that a SEPARATE MEETING of the MEMBERS OF CLASS 5, THE PROTECTING AND INDEMNITY CLASS, of the Association will be held at the REGISTERED OFFICE of the Association, 50 LEMAN STREET, LONDON, E1 8HQ at 12 noon on WEDNESDAY, 29th JANUARY 2014, or as soon thereafter as the meeting of the Committee called for that day is finished, for the purpose of amending the Rules. The following amendments together with such further amendments, if any, as may be proposed will be submitted for adoption with or without modification and with effect from noon G.M.T. on the 20th day of February 2014. [New wording is in bold. The explanatory notes in italics will not appear in the actual Rules.] RULE 1 INTRODUCTORY 1.1 In these Rules, unless the context requires otherwise: “Assured” means a person whose application for insurance within this Class of any interest in a Ship has been accepted by the Association and includes, for the avoidance of doubt, a Co-assured and ,an Other Assured; and persons with Fixed Premium Entries; [Explanation: clarification that persons with fixed premium entries may be assureds.] “Electronic Communication Form” has the meaning given in section 1168(3) of the Companies Act 2006; “Electronic Communications Act 2000; Means” has the meaning given in section 1168(4) of the Companies Act 2006; [Explanation: updating to refer to the electronic communications provisions in the Companies Act 2006 – various changes have been made throughout the Rules to reflect such parts of that legislation.] “Fixed Premium Entry” has the meaning given in Rule 1.5; [Explanation: new definition added for clarity.] “in writing” means written, printed, lithographed, electronic form, or visibly expressed in all or any of those or any other modes of representing or reproducing words; [Explanation: the new definition is consistent with the Articles and has been added for clarity.] “Member” means an Assured who is a member of the Association in accordance with the Companies Act 1985 2006 and the Articles; “Memorandum” means the Memorandum of Association of the Association in force from time to time; - 2 [Explanation: the removal of references to the memorandum is because under the Companies Act 2006 the memorandum is deemed to be incorporated in the articles of association. Changes have been proposed in other Rules to reflect this development.] 1.2 These Rules and all contracts entered into by the Association relating to any insurance afforded by the Association within this Class (which shall hereinafter be understood to include also any reinsurance which may be afforded by the Association within this Class in accordance with Rule 31.1.1) shall be subject to the Memorandum and Articles, and words as defined in the Articles shall have the same meaning in these Rules unless the context requires otherwise or unless they are defined differently in these Rules. Without prejudice to the generality of the foregoing, the provisions of the Articles relating to Co-assureds shall be binding on all Co-assureds notwithstanding that not all Co-assureds are Members. 1.3 All contracts entered into insurance afforded by the Association within this Class and all contracts relating thereto shall be deemed to incorporate the provisions of these Rules.... [Explanation: drafting improvement.] 1.4.1.2 the Managers shall be at liberty in their sole discretion to delay making payment to the Assured unti