{
  "url": "https://openlegislation.uk/industrial-assurance-life-assurance-premium-relief-regulations-1977/schedule-1/paragraph-3",
  "json_url": "https://openlegislation.uk/industrial-assurance-life-assurance-premium-relief-regulations-1977/schedule-1/paragraph-3.json",
  "legislation": "uksi/1977/1144",
  "legislation_title": "The Industrial Assurance (Life Assurance Premium Relief) Regulations 1977",
  "legislation_url": "https://openlegislation.uk/industrial-assurance-life-assurance-premium-relief-regulations-1977",
  "path": "schedule/1/paragraph/3",
  "kind": "paragraph",
  "number": "3",
  "heading": null,
  "text": "The net premium shall be a sum equal to 82½ per cent of the gross premium, except that—\n(a) in relation to an industrial assurance contract, where the said sum is not a multiple of one halfpenny, it shall be rounded off to the nearer halfpenny, or, if the said sum is a multiple of one half of one halfpenny, to the nearer penny; and\n(b) in relation to a collecting society contract, where the said sum is not a multiple of one penny, it shall be rounded off to the nearer penny, or, if the said sum is a multiple of one halfpenny, to the nearer even penny.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "amended",
      "affecting": "uksi/1984/322",
      "affecting_title": "The Industrial Assurance (Life Assurance Premium Relief) (Amendment) Regulations 1984"
    },
    {
      "type": "amended",
      "affecting": "uksi/1978/1161",
      "affecting_title": "The Industrial Assurance (Life Assurance Premium Relief) (Amendment) Regulations 1978"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1977/1144/schedule/1/paragraph/3",
    "retrieved_at": "2026-10-29T19:56:13.542165+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."
}