Paragraph 1

Subsection (1) of section 23 of the Industrial Assurance Act 1923, as it applies to an industrial assurance contract to which the prescribed scheme, or an approved scheme which provides for payment of net premiums, applies, shall have effect as if for the words “the amount due” there were substituted the words “the amount of the net premiums, as defined in the Industrial Assurance (Life Assurance Premium Relief) Regulations 1977, due”.