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Paragraph 2

Original text. Later amendments are not shown.

(1)

Section 54 of the Reserve and Auxiliary Forces (Protection of Civil Interests) Act 1951 (protection of life policies (industrial assurance and collecting societies)) is amended as follows.

(2)

In subsection (1), in paragraph (b) after “policies of assurance upon human life effected” insert “before 1st December 2001”.

(3)

After subsection (1) insert—

“(1A)

In subsection (1), “collecting society” means a friendly society which, at the time when the policy in question was effected, carried on industrial assurance business within the meaning of section 1 of the Industrial Assurance Act 1923.”.

(4)

In subsection (9)—

(a)

for “An appeal shall lie to the Commissioner from” substitute “A complaint may be made to the ombudsman scheme in relation to”;

(b)

for “where the Commissioner allows an appeal” substitute “where an ombudsman determines a complaint in favour of the complainant”; and

(c)

for the second paragraph of that subsection substitute—

“A complaint to the ombudsman scheme made under this subsection is to be treated as if it were a complaint to which the voluntary jurisdiction of the scheme applies, and the scheme operator may make such adaptations of the voluntary jurisdiction rules as appear to it to be necessary in the circumstances for the determination of a complaint made under this subsection.”.

(5)

After subsection (9) insert—

“(9A)

For the purposes of subsection (9)—

  • “voluntary jurisdiction of the scheme” has the meaning given in section 227(12) of the Financial Services and Markets Act 2000, and

  • “voluntary jurisdiction rules” has the meaning given in section 227(3) of that Act.".

3
(1)

In section 55 of that Act (protection of life policies (friendly societies other than collecting societies)), for subsection (1) substitute—

(i)

This section applies to—

(a)

policies of assurance upon human life, in respect of which there are separate premiums, effected before the 1st December 2001 with a friendly society which was not a collecting society, and

(b)

policies of assurance upon human life effected on or after the 1st December 2001 with a friendly society.”.

(2)

After subsection (1) insert—

“(1A)

In subsection (1)(a), “collecting society” means a friendly society which at the time when the policy in question was effected, carried on industrial assurance business within the meaning of section 1 of the Industrial Assurance Act 1923.”.