Article 2 Illegal policies: liability of insurer

(1)

The Industrial Assurance Act 1923 (as that Act has effect, notwithstanding its repeal^f1, by virtue of the Financial Services and Markets Act 2000 (Consequential Amendments and Savings) (Industrial Assurance) Order 2001^f2) is amended as follows.

(3)

In section 5 (prohibition on issue of illegal policies), in subsection (1)^f3 for “entitled” (in the second place it occurs) substitute “liable”.

Annotations

Footnotes

f1: The Industrial Assurance Act 1923 was repealed by section 416(1)(a) of the Financial Services and Markets Act 2000 (c. 8) as from 1st December 2001.
f2: S.I. 2001/3647, article 3(3), Schedule 1, Part I, paragraphs 1 to 18.
f3: Section 5(1) as it has effect from 1st December 2001, was substituted by S.I. 2001/3647, Schedule 1, Part I, paragraph 4.