25(1)The [1975 c. 75.] Policyholders Protection Act 1975, shall be amended as follows.
(2)In section 3(2) for the words from " permitted " to " 1974 " there shall be substituted the words " authorised under section 3 or 4 of the Insurance Companies Act 1981 ".
(3)In section 8(4), for the words from "not being" to the end there shall be substituted the words " other than class 5, 6, 7, 11 or 12, not being a contract of reinsurance ".
(4)In subsections (1) and (3) of section 28 after the words " Insurance Companies Act 1974 " there shall be inserted the words " or the Insurance Companies Act 1981 ".
(5)In section 29 after the words " Insurance Companies Act 1974 " there shall be inserted the words " or the Insurance Companies Act 1981 " ; and at the end there shall be added the words " or the said Act of 1981 ".