SCHEDULES

SCHEDULE 2 Section 2: consequential amendments

5

1

Section 10 shall be amended as follows.

2

In subsection (2)—

a

after “14” there shall be inserted “ and subsection (2A) ”, and

b

for “was a United Kingdom policy at the beginning of the liquidation” there shall be substituted “ is a qualifying policy ”.

3

After that subsection there shall be inserted—

2A

The duty of the Board under subsection (2) above shall not apply unless the liability is in respect of a protected commitment.