Helios Underwriting : Articles of Association.

	HELIOS UNDERWRITING PLC
	TABLE OF CONTENTS
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PRELIMINARY .............................................................................................................................................	I
I.	DEFINITIONS ..................................................................................................................................	I
2.	EXCLUSION OF TABLE A ....................................................................................................	5
3.	LIABILITY OF MEMBERS .....................................................................................................	5
CAPITAL ................................................................................................................................................	5
4.	ALLOTMENT ...........................................................................................................................	5
5.	SHARE WARRANTS TO BEARER .......................................................................................	6
6.	COMMISSIONS AND BROKERAGE ....................................................................................	7
7.	TRUSTS NOT RECOGNISED .................................................................................................	7
8.	RESTRICTIONS ON SHARES - REGULATORY PROVISIONS ........................................	7
9.	VARIATION OF CLASS RIGHTS ..................................................................................	10
I0.	CLASS MEETINGS ...............................................................................................................	10
ALTERATION OF SHARE CAPITAL.....................................................................................................	11
11.	INCREASE AND CANCELLATION...........................................................................................	11
12.	FRACTIONS..................................................................................................................................	11
CERTIFICATED SHARES..................................................................................................................	12
13.	RIGHT TO CERTIFICATES ..................................................................................................	12
14.	REPLACEMENT CERTIFICATES .......................................................................................	13
UNCERTIFICATED SHARES.............................................................................................................	13
15.	UNCERTIFICATED SHARES................................................................................................	13
LIEN ON SHARES .....................................................................................................................................	14
16. COMPANY'S LIEN ON SHARES NOT FULLY PAID .......................................................	14
17.	ENFORCEMENT OF LIEN BY SALE ..................................................................................	15
18.	APPLICATION OF SALE PROCEEDS ................................................................................	15
CALLS	..................................................................................................................................................	15
19.	CALLS .....................................................................................................................................	15
20.	LIABILITY OF JOINT HOLDERS ........................................................................................	15
21.	INTEREST ...............................................................................................................................	16
22.	DIFFERENTIATION .............................................................................................................	16
23.	PAYMENT IN ADVANCE OF CALLS ...............................................................................	16
24.	RESTRICTIONS IF CALLS UNPAID..................................................................................	16
25.	SUMS DUE ON ALLOTMENT TREATED AS CALLS.....................................................	16
FORFEITURE..............................................................................................................................................	16
26.	FORFEITURE AFTER NOTICE OF UNPAID CALL.........................................................	16

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	TABLE OF CONTENTS
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27.	NOTICE AFTER FORFEITURE ...........................................................................................	17
28.	CONSEQUENCES OF FORFEITURE ..................................................................................	17
29.	DISPOSAL OF FORFEITED SHARE ..................................................................................	17
30.	PROOF OF FORFEITURE ....................................................................................................	18
UNTRACED MEMBERS ...................................................................................................................	18
31.	SALE OF SHARES.................................................................................................................	18
32.	APPLICATION OF SALE PROCEEDS ...............................................................................	19
TRANSFER OF SHARES...................................................................................................................	19
33.	FORM OF TRANSFER .........................................................................................................	19
34.	REGISTRATION OF A CERTIFICATED SHARE TRANSFER .............................................	20
35.	REGISTRATION OF AN UNCERTIFICATED SHARE TRANSFER................................	20
36.	NO FEE ON REGISTRATION....................................................................................................	21
EXERCISE OF MEMBERS' RIGHTS ...............................................................................................	21
37.	NOMINATION OF PERSONS TO ENJOY MEMBERS' RIGHTS ....................................	21
TRANSMISSION OF SHARES .........................................................................................................	21
38.	ON DEATH ..................................................................................................................................	21
39.	ELECTION OF PERSON ENTITLED BY TRANSMISSION ............................................	21
40.	RIGHTS ON TRANSMISSION.............................................................................................	22
GENERAL MEETINGS .....................................................................................................................	22
41.	ANNUAL AND OTHER GENERAL MEETINGS ..............................................................	22
42.	PROCEEDINGS AT GENERAL MEETINGS .....................................................................	22
43.	QUORUM FOR GENERAL MEETING ..............................................................................	23
44.	PROCEDURE IF QUORUM NOT PRESENT ...........................................................................	24
45.	CHAIRMAN OF GENERAL MEETING .............................................................................	24
46.	RIGHTS OF DIRECTORS AND OTHERS TO ATTEND MEETINGS .............................	24
47.	MEETING PLACES AND ACCOMMODATION OF MEMBERS ....................................	24
48.	SECURITY .............................................................................................................................	25
49.	POWER TO ADJOURN ........................................................................................................	25
50.	NOTICE OF ADJOURNED MEETING...............................................................................	26
51.	BUSINESS OF ADJOURNED MEETING...........................................................................	26
VOTING ..............................................................................................................................................	26
52.	VOTING AT A GENERAL MEETING ...............................................................................	26
53.	POLI. PROCEDURE .............................................................................................................	27
54.	VOTES OF MEMBERS ........................................................................................................	27

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	TABLE OF CONTENTS
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55.	CHAIRMAN'S CASTING VOTE ..........................................................................................	28
56.	VOTING RESTRICTIONS ON AN OUTSTANDING CALL.............................................	28
57.	PROXY INSTRUMENT ........................................................................................................	28
58.	CORPORATE REPRESENT ATIVES ...................................................................................	30
59.	AMENDMENT TO RESOLUTIONS.....................................................................................	30
60.	OBJECTION TO ERROR IN VOTING.................................................................................	30
FAILURE TO DISCLOSE INTERESTS IN SHARES	30
61.	FAILURE TO DISCLOSE INTERESTS IN SHARES ...............................................................	30
APPOINTMENT, RETIREMENT AND REMOVAL OF DIRECTORS ..........................................	33
62.	NUMBER OF DIRECTORS ..................................................................................................	33
63.	NO SHARE QUALIFICATION .............................................................................................	33
64.	COMPANY'S POWER TO APPOINT DIRECTORS ...........................................................	33
65.	BOARD'S POWER TO APPOINT DIRECTORS .................................................................	33
66.	APPOINTMENT OF EXECUTIVE DIRECTORS................................................................	34
67.	ELIGIBILITY OF NEW DIRECTORS ..................................................................................	34
68.	ROTATIONAL RETIREMENT AT ANNUAL GENERAL MEETING..............................	34
69.	POSITION OF RETIRING DIRECTOR................................................................................	34
70.	REMOVAL BY ORDINARY RESOLUTION ......................................................................	35
71.	VACATION OF DIRECTOR'S OFFICE ...............................................................................	35
ALTERNATE DIRECTORS ................................................................................................................	36
72.	APPOINTMENT .....................................................................................................................	36
73.	RESPONSIBILITY .................................................................................................................	36
74.	PARTICIPATION AT BOARD MEETINGS ........................................................................	36
75.	INTERESTS ............................................................................................................................	36
76.	TERMINATION OF APPOINTMENT ..................................................................................	36
BOARD POWERS ...............................................................................................................................	37
77.	BOARD POWERS ..................................................................................................................	37
78.	DIRECTORS BELOW THE MINIMUM NUMBER ............................................................	37
79.	DELEGATION TO EXECUTIVE DIRECTORS ..................................................................	37
80.	DELEGATION TO COMMITTEES......................................................................................	37
81.	LOCAL MANAGEMENT .....................................................................................................	38
82.	DELEGATION TO AGENTS................................................................................................	38
83.	EXERCISE OF VOTING POWER .......................................................................................	38
84.	PROVISION FOR EMPLOYEES..........................................................................................	38

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85.	OVERSEAS REGISTERS .....................................................................................................	38
86.	ASSOCIATE DIRECTORS ...................................................................................................	39
87.	BORROWING POWERS ......................................................................................................	39
DIRECTORS' REMUNERATION, EXPENSES AND BENEFITS .................................................	42
88.	FEES.......................................................................................................................................	42
89.	EXPENSES ............................................................................................................................	42
90.	REMUNERATION OF EXECUTIVE DIRECTORS ..........................................................	42
91.	SPECIAL REMUNERATION...............................................................................................	43
92.	PENSIONS AND OTHER BENEFITS.................................................................................	43
DIRECTORS' PROCEEDINGS ..........................................................................................................	43
93.	BOARD MEETINGS .............................................................................................................	43
94.	NOTICE OF BOARD MEETINGS........................................................................................	43
95.	QUORUM ...............................................................................................................................	43
96.	BOARD CHAIRMAN ............................................................................................................	44
97.	VOTING .................................................................................................................................	44
98.	TELEPHONE PARTICIPATION ..........................................................................................	44
99.	WRITTEN RESOLUTIONS ..................................................................................................	44
100.	COMMITTEE PROCEEDINGS ............................................................................................	44
101.	MINUTES ...............................................................................................................................	45
l02.	VALIDITY OF PROCEEDINGS ..........................................................................................	45
INTERESTS OF DIRECTORS ...........................................................................................................	45
103.	PERMITTED INTERESTS....................................................................................................	45
1 04.	DECLARATION OF INTERESTS .............................................................................................	45
105.	AUTHORISATION OF CONFLICTS OF INTEREST ........................................................	46
106.	VOTING .................................................................................................................................	46
107.	APPOINTMENTS ..................................................................................................................	47
108.	MATERIALITY OF INTEREST ..........................................................................................	47
109.	INTERESTS OF CONNECTED PERSONS.........................................................................	47
110.	PROFESSIONAL CAPACITY OF DIRECTORS.......................................................................	47
111.	MULTIPLE DIRECTORSHIPS ............................................................................................	47
SECRETARY ......................................................................................................................................	48
112.	SECRETARY .........................................................................................................................	48
SEALS AND DOCUMENT AUTHENTICATION ...........................................................................	48
113.	APPLICATION OF SEAL. ...................................................................................................	48

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