9.15 Further Amendment of Contract Rules

a. In respect of any Contract the Contract Rules may from time to time be amended in accordance with the Rules without prejudice to any right of the Directors contained elsewhere in the Rules to amend the Contracts Rules. Such an amendment may according to its terms have effect on existing as well as new Contracts, and in such case all Contracts declared to be affected shall forthwith (or at such time as the terms of the amendment shall indicate) automatically be modified in conformity to the amendment.

b. The Directors shall not propose an amendment under this Rule on terms affecting existing Contracts if the amendment is in their opinion likely to affect the market price of the product. The restraint imposed by this paragraph (b) shall not apply in respect of:

i. contract months which, in the case of the Freight Contracts and Iron Ore Contracts and Fertilizer Contracts and other contracts are for the time being more distant than the twelfth forward contract month;

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