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Industrial Assurance Act 1923

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This is the original version (as it was originally enacted).

45Interpretation

(1)In this Act, unless the context otherwise requires—

The expression " collector " shall include every person, howsoever remunerated, who, by himself or by any deputy or substitute, makes house to house visits for the purpose of receiving premiums payable on policies of insurance on human life, or holds any interest in a collecting book and includes such a deputy or substitute as aforesaid :

The expression " premium " includes contribution :

The expression " collecting book " includes any book or document held by a collector in which payments of premiums are recorded :

The expression " premium receipt book" includes any book or document held by the owner of a policy in which acknowledgments of receipts of premiums payable in respect of the policy are entered:

The expression " owner" in relation to any policy means the person who is for the time being the person entitled to receive the sums payable under the policy on maturity, and in the case of an illegal policy or a policy not within the legal powers of the society or company which issued it means the person who would he so entitled were the policy a legal policy or a policy within such powers:

The expression "rules" in relation to a company means the memorandum and articles of association of the company:

The expression "the Companies Acts" means the Companies Acts, 1908 to 1917, and any Acts repealed by the Companies (Consolidation) Act, 1908. Other expressions have the same meaning as in the Friendly Societies Act, 1896.

(2)Where under this Act the Commissioner awards that a collecting society he dissolved and its affairs wound up, the award shall he made in the like manner and have the like consequences as if it were an award made under section, eighty of the Friendly Societies Act, 1896, and may direct in what manner the assets are to he divided or appropriated:

Provided that the society may appeal against the award to the High Court or in the case of a society registered in Scotland to the Court of Session.

(3)The application of this Act to Scotland, the Isle of Man, and the Channel Islands shall he subject to the same modifications as are expressed in the Friendly Societies Act, 1896, with respect to the application of that Act, and for the purposes of this Act the Isle of Man and the several Channel Islands shall be deemed to be counties.

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