{
  "url": "https://openlegislation.uk/friendly-societies-long-term-insurance-business-regulations-1987/schedule-3/paragraph-1",
  "json_url": "https://openlegislation.uk/friendly-societies-long-term-insurance-business-regulations-1987/schedule-3/paragraph-1.json",
  "legislation": "uksi/1987/2132",
  "legislation_title": "The Friendly Societies (Long Term Insurance Business) Regulations 1987",
  "legislation_url": "https://openlegislation.uk/friendly-societies-long-term-insurance-business-regulations-1987",
  "path": "schedule/3/paragraph/1",
  "kind": "paragraph",
  "number": "1",
  "heading": null,
  "text": "In this Schedule–\n“gross premiums”, in relation to a society and a year of account means premiums after the deduction of discounts, refunds and rebates of premium but before deduction of premiums for reinsurance ceded and before deduction of commission payable by the society;\n“receivable”, in relation to a society, a year of account and a premium, means recorded in the society’s books as due to the society in respect of–\n(a) a contract commencing in that year, or\n(b) a contract not accounted for in an annual revenue account of the society prior to that year, even though the contract commenced in an earlier year of account,\nwhether or not the society has received the premium;\n“recoverable”, in relation to a society and a year of account, means recorded in the society’s books as due in that year, whether or not the society has received any payment.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1987/2132/schedule/3/paragraph/1",
    "retrieved_at": "2026-10-29T16:15:26.669038+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."
}