{
  "url": "https://openlegislation.uk/friendly-societies-insurance-business-amendment-regulations-1996/regulation-25",
  "json_url": "https://openlegislation.uk/friendly-societies-insurance-business-amendment-regulations-1996/regulation-25.json",
  "legislation": "uksi/1996/3008",
  "legislation_title": "The Friendly Societies (Insurance Business) (Amendment) Regulations 1996",
  "legislation_url": "https://openlegislation.uk/friendly-societies-insurance-business-amendment-regulations-1996",
  "path": "regulation/25",
  "kind": "regulation",
  "number": "25",
  "heading": "Schedule 2",
  "text": "(1) Paragraph 1 of Schedule 2 to the 1994 Regulations (general business solvency margin: first method of calculation (premium basis)) shall be amended as follows.\n(2) After the definition of “gross premiums” insert—\n““incepted” refers to the time when the liability to risk of a society under a contract of insurance commenced and, for this purpose, a contract providing continuous cover shall be deemed to commence on each anniversary date of the contract;”.\n(3) For the definition of “receivable” substitute—\n““receivable” in relation to a society, a financial year and a premium means due to the society in respect of contracts of insurance incepted during that financial year, whether or not the premium is received during that financial year.”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1996/3008/regulation/25",
    "retrieved_at": "2026-10-29T12:31:09.195562+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."
}