(1)Section twenty-one of the Act of 1923 (which requires the provisions of that Act mentioned in the Third Schedule thereto, or a statement setting forth the effect of those provisions, to be set out in policies of industrial assurance), and the said Third Schedule, shall cease to have effect, and subsections (3) and (4) of section three of the Act of 1929 (which require the provisions of that section, or a statement setting forth the effect of those provisions, to be set out in such policies and in premium receipt books) shall cease to have effect so far as they relate to the setting out in policies.
(2)A collecting society, and an industrial assurance company, shall cause to be set out, in every premium receipt book provided by them after the coming into operation of this subsection for use in respect of policies of industrial assurance, the matters specified in the Third Schedule to this Act relating to the provisions mentioned in that Schedule of the Act of 1896, of the Act of 1923 and of this Act and of regulations made for the purposes of section eight of this Act.
(3)The preceding provisions of this section shall come into operation at the expiration of one year from the day appointed for the coming into operation of section twenty-two of the National Insurance Act, 1946 :
Provided that the last preceding subsection shall not come into operation as respects any regulations made under section eight of this Act until the expiration of six months from the date on which the regulations come into operation.
(4)A collecting society, and an industrial assurance company, shall, at some time during such period as may be prescribed for the purposes of this subsection by order of the Treasury made by statutory instrument, publish by advertisement in one or more of the newspapers in general circulation in every county where the society or company carries on business a statement approved by the Commissioner as sufficiently setting forth the effect of the provisions of sections one, two and nine of this Act and of subsections (1) and (2) of section ten thereof, and of the effect of subsections (1) and (2) of section six of this Act and of section sixty-two of the Act of 1896 taken together :
Provided that such a society or company shall not be under obligation to comply with the preceding provisions of this subsection as respects any county if arrangements are made between the Commissioner and such societies and companies generally for the general publication by newspaper advertisement of such a statement, and such a statement is in accordance with those arrangements published during the said period in manner approved by the Commissioner as satisfying the purposes of this subsection as respects that county.