SCHEDULES

SCHEDULE 4 Friendly societies: consequential amendments

Part II Application of the 1975 Act to existing contracts

14

In section 15—

a

in subsection (2), for the words from “if” to the end there shall be substituted—

a

if he is a policyholder in respect of a general policy or a long term policy of a company in liquidation which was a United Kingdom policy at the beginning of the liquidation; or

b

if he is a policyholder in respect of a general policy or a long term policy of a company in provisional liquidation which was a United Kingdom policy at the time when the provisional liquidator was appointed.

b

in subsection (3), the words “, in relation to the insurance of a protected risk or commitment” shall be omitted.