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Rule 49 Confiscation of the Ship

The Association may, in its discretion, authorise payment, in whole or in part, of a Member's claim for loss of the Ship following confiscation of the Ship by any legally empowered court, tribunal or authority by reason of the infringement of any customs law or customs regulations, or any fines involving such confiscation, provided that:

a) the amount recoverable from the Association shall under no circumstances exceed the market value of the Ship without commitment at the date of the confiscation;
b) the Member shall have satisfied the Association that he took such steps as appear to the Association to be reasonable to prevent the infringement of the customs law or regulation giving rise to the confiscation;
c) no such claim shall be considered by the Association until such time as the Member has been irrevocably deprived of his interest in the Ship;
d) the Association shall be under no obligation to give reasons for its decision.