SCHEDULE 1CONTRACTS OF INSURANCE

PART ICONTRACTS OF GENERAL INSURANCE

Suretyship15

1

Contracts of insurance against the risks of loss to the persons insured arising from their having to perform contracts of guarantee entered into by them.

2

Fidelity bonds, performance bonds, administration bonds, bail bonds or customs bonds or similar contracts of guarantee, where these are—

a

effected or carried out by a person not carrying on a banking business;

b

not effected merely incidentally to some other business carried on by the person effecting them; and

c

effected in return for the payment of one or more premiums.