{
  "url": "https://openlegislation.uk/industrial-assurance-northern-ireland-order-1979/schedule-5/paragraph-3",
  "json_url": "https://openlegislation.uk/industrial-assurance-northern-ireland-order-1979/schedule-5/paragraph-3.json",
  "legislation": "nisi/1979/1574",
  "legislation_title": "Industrial Assurance (Northern Ireland) Order 1979",
  "legislation_url": "https://openlegislation.uk/industrial-assurance-northern-ireland-order-1979",
  "path": "schedule/5/paragraph/3",
  "kind": "paragraph",
  "number": "3",
  "heading": null,
  "text": "Where the balance sheet of. . . an industrial assurance company includes amongst the assets thereof any sums representing—\n(a) expenses of organisation or extension; or\n(b) the purchase of business or goodwill;\nand the amount of the assets, exclusive of such sums (after deducting debts due by the. . . company, other than debentures and loans), is less than the amount of the industrial assurance fund or, as the case may be, of the several assurance and insurance funds as shown in that balance sheet, the amount of the industrial assurance fund shown in the valuation balance sheet shall be reduced by the amount of the deficiency or, as the case may be, by a sum bearing such proportion to that deficiency as the amount of the industrial assurance fund shown in the first-mentioned balance sheet bears to the aggregate amount of all the assurance and insurance funds so shown.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "1992 c. 40"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/nisi/1979/1574/schedule/5/paragraph/3",
    "retrieved_at": "2026-10-29T04:52:45.581277+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."
}