In respect of any factory area, a crop year may be declared by the Board not later than 31st January of any crop year to be an “Event Year” on account of the occurrence of all or any of the following causes: cyclones, drought or excessive rainfall having caused losses in sugar production.
In case of non declaration of an “Event Year” in respect of any factory area, Insureds may not later than 30th April request the Board in writing to make the declaration.