Industrial Assurance (Northern Ireland) Order 1979 No. 1574 (NI. 13)

SCHEDULES

SCHEDULE 6 N.I. RULES FOR VALUING POLICIES AND FOR ASCERTAINING THE AMOUNT OF A FREE PAID-UP POLICY

PART II N.I. RULE FOR ASCERTAINING THE AMOUNT OF A FREE PAID-UP POLICY

6.  Subject to Article 35 and Schedule 7, the amount of a free paid-up policy is to be a sum bearing the same proportion to 75 per cent. of the value of the policy as the sum of £1 bears to the value of the reversion in the sum of £1, according to the contingency upon which the sum assured under the original policy was payable. N.I.