The Industrial Assurance (Life Assurance Premium Relief) Regulations 1977

Interpretation

2.—(1) In these Regulations—

“industrial assurance company” and “collecting society” have the meanings assigned by section 1 of the Industrial Assurance Act 1923 as amended by Schedule 6 to the Companies Act 1967;

“industrial assurance contract” means a contract of assurance made by an industrial assurance company in the course of its industrial assurance business in Great Britain or a contract made by a collecting society with a member of the society in the course of its industrial assurance business in Great Britain, whether contained in the rules of the society or not;

“collecting society contract” means a contract, other than an industrial assurance contract, made by a collecting society with a member of the society in the course of business in Great Britain, whether contained in the rules of the society or not;

“the prescribed scheme” means the scheme prescribed in Schedule 1 to these Regulations;

“an approved scheme” means a special scheme approved by the Industrial Assurance Commissioner in the circumstances provided for in regulation 7 of these Regulations;

“actuary” means an actuary having the qualifications which are prescribed by the Friendly Societies (Qualifications of Actuaries) Regulations 1968;

“net premium” has the meaning assigned in paragraph 3 of Schedule 1 to these Regulations;

“gross premium” means the premium of the amount payable under the policy or contract;

“parent” includes a stepfather and a stepmother.

(2) The rules for the construction of Acts of Parliament contained in the Interpretation Act 1889 shall apply for the purposes of the interpretation of these Regulations.