Paragraph 5

(1)

In subsection (2) of section 178 of the 1993 Act (stop-loss and quota share insurance)—

(a)

for the word “him” there shall be substituted the words “ a member ”; and

(b)

for the word “arose” there shall be substituted the words “ was declared ”.

(2)

This paragraph has effect as respects insurance money and other amounts payable in respect of losses declared in the underwriting year 1997 or subsequent underwriting years.