Regulation 2

Nothing in regulation 3(1) of the Friendly Societies (Life Assurance Premium Relief) Regulations 1977^f1 (“the 1977 Regulations”) shall be taken to have authorised the adoption of any scheme to the extent that, by virtue of the scheme, payments due and payable under contracts made after 13th March 1984 would, apart from these Regulations, have been retained by or refunded to the persons paying them.