Paragraph 15

The repeal of section 44(2) and (3) of, and Schedules 3 and 4 to, the M1Insurance Companies Act (Northern Ireland) 1968 (which by virtue of Article 96(6) of the said Order of 1976 is not to take effect until the first rules under Article 62(2) of the said Order come into operation) shall not take effect until the first rules made under section 317 of the M2Companies Act (Northern Ireland) 1960 by virtue of section 51(2) of the said Act of 1974 come into operation.