Policyholders Protection Act 1997

6(1)Section 11 shall be amended as follows.

(2)In subsection (3)—

(a)after “14” there shall be inserted “and subsection (3A)”, 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—

(3A)The duty of the Board under subsection (3) above shall not apply in relation to a commitment which is not a protected commitment.