Section 2 Provisions as to repayment of premiums.

For the purpose of calculating the maximum sum which may be insured or paid under the last foregoing section or under section sixty-two of the M1Friendly Societies Act 1896, no account shall be taken of any repayment of the whole or any part of the premiums paid in respect of any endowment policy, and sections sixty-three to sixty-six of that Act and subsection (2) of section four of the M2Industrial Assurance Act 1923 shall not apply as respects any such repayment.