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P&I (CLASS 3) / PART II / RULE 10
CONTRIBUTION BY WAY OF CALLS
10.1 Mutual Insurance
Subject to Rule 7 Special Insurances, Members who have entered Ships for insurance in this Class of the Association for any part of a Policy Year shall through the Association insure each other as hereinafter set out against liabilities, costs and expenses which they or any of them may incur or may become liable to pay in respect of such Entered Ships, and for this purpose the said Members shall contribute by way of Calls to the funds required to meet:
10.1.1 The claims (including any contribution to any Overspill Claim), costs and expenses of the Association and other outgoings (whether incurred, accrued or anticipated) which in the opinion of the Board necessarily and properly fall upon this Class of the Association in respect of such Policy Year.
10.1.2 Such transfers to reserves or provisions as the Board may deem it expedient to make, including transfers to reserves and provisions in respect of any deficiency which has occurred or which may be thought likely to occur in respect of any Closed Policy Year as the Board thinks fit.
10.1.3 The proportion attributable to this Class of such sums as the Association may by any Governmental legislation or regulation be required to set aside in order to establish and/or maintain an adequate Solvency Margin and/or Guarantee Fund in respect of any Policy Year.
10.2 Estimated Total Call
The said Calls shall be levied by means of an Estimated Total Call, Exceptional Calls and Overspill Calls in accordance with the provisions of Rule 11 Calls.