{
  "url": "https://openlegislation.uk/financial-services-act-1986-repealed/section-139",
  "json_url": "https://openlegislation.uk/financial-services-act-1986-repealed/section-139.json",
  "legislation": "ukpga/1986/60",
  "legislation_title": "Financial Services Act 1986 (repealed)",
  "legislation_url": "https://openlegislation.uk/financial-services-act-1986-repealed",
  "path": "section/139",
  "kind": "section",
  "number": "139",
  "heading": "Industrial assurance.",
  "text": "(1) In section 5 of the Industrial Assurance Act 1923 (prohibition on issue of illegal policies) the references to policies which are illegal or not within the legal powers of a society or company shall not be construed as applying to any policy issued—\n(a) in the course of carrying on investment business in contravention of section 3 above; or\n(b) in the course of carrying on insurance business in contravention of section 2 of the Insurance Companies Act 1982.\n(2) In section 20(4) of the said Act of 1923 the reference to a person employed by a collecting society or industrial assurance company and in section 34 of that Act the references to a person in the regular employment of such a society or company shall include references to an appointed representative of such a society or company but as respects section 34 only if the contract in question is an investment agreement.\n(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(5) The foregoing provisions of this secdtion shall apply to Northern Ireland with the substitution for the references to sections 5, 20(4), 32 and 34 of the said Act of 1923 . . . of references to Articles 20, 27(2), 36 and 38 of the Industrial Assurance (Northern Ireland) Order 1979 . . . and for the references to the Industrial Assurance Commissioner of references to the Industrial Assurance Commissioner for Northern Ireland.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "S. 139(3)(4) repealed (28.4.1993 for specified purposes and 1.1.1994 for all remaining purposes) by Friendly Societies Act 1992 (c. 40), s. 98, Sch. 22 Pt.I (with ss. 7(5), 93(4)); S.I. 1993/1186, art. 2(1), Sch. 1Appendix; S.I. 1993/2213, art. 2(1), Sch. 5Appendix."
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in s. 139(5) repealed (28.4.1993 for specified purposes and 1.1.1994 for all remaining purposes) by Friendly Societies Act 1992 (c. 40), s. 98, Sch. 22 Pt.I (with ss. 7(5), 93(4)); S.I. 1993/1186, art. 2(1), Sch. 1Appendix; S.I. 1993/2213, art. 2(1), Sch. 5Appendix."
    },
    {
      "type": "M",
      "label": "M1",
      "text": "1923 c. 8."
    },
    {
      "type": "M",
      "label": "M2",
      "text": "1982 c. 50."
    },
    {
      "type": "M",
      "label": "M3",
      "text": "1979/1574 (N.I. 13)."
    },
    {
      "type": "C",
      "label": "C1",
      "text": "S. 139(1) amended (1.7.1994) by S.I. 1994/1696, reg. 65"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1986/60/section/139",
    "retrieved_at": "2026-10-29T09:53:57.234744+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}