Regulation 3

In consequence of regulation 2 above, the 1977 Regulations shall have effect with the following modifications—

(a)

in regulation 3(2), for the words “policies or contracts to which” there shall be substituted the words—

“(a)

policies in respect of assurances made before 14th March 1984, or

(b)

contracts made before that date, to which”

and

(b)

in Schedule 1 (the prescribed scheme) in paragraph 1 (contracts to which the scheme) applies, after the word “contract” there shall be inserted the words “made before 14th March 1984”.