Section 36 Avoidance of contracts for unlimited amounts.

United Kingdom

A contract entered into after the coming into force of this section by an insurance company to which this Part of this Act applies shall be void if—

(a)

it is a contract under which the company undertakes a liability the amount, or maximum amount, of which is uncertain at the time when the contract is entered into; and

(b)

it is not a contract of insurance or a contract of a class or description exempted by regulations from the operation of this section.

Notes on the whole Act

Textual amendments

F1: Act repealed (1.12.2001) by The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001 (S.I. 2001/3649), arts. 1, 3(1)(b)

Notes on Part II

Modifications

C1

Pt. II (ss. 15-71) restricted (1.1.1993) by S.I. 1992/3218, reg65

Pt. II (ss. 15-71) extended (24.12.1996) by S.I. 1996/3011, reg. 3(1)(b), 10(1)