{
  "url": "https://openlegislation.uk/insurance-companies-amendment-regulations-1995/schedule-1/paragraph-16",
  "json_url": "https://openlegislation.uk/insurance-companies-amendment-regulations-1995/schedule-1/paragraph-16.json",
  "legislation": "uksi/1995/3248",
  "legislation_title": "The Insurance Companies (Amendment) Regulations 1995",
  "legislation_url": "https://openlegislation.uk/insurance-companies-amendment-regulations-1995",
  "path": "schedule/1/paragraph/16",
  "kind": "paragraph",
  "number": "16",
  "heading": null,
  "text": "Benefits payable under any contract to which regulation 43 applies shall not be determined by reference to—\n(a) property of any of the descriptions specified in paragraphs 2, 5(b) or 7 above if the value of such property is determined, either wholly or partly, by reference to the value of, or the income from or fluctuations in the value of, property other than property of the descriptions in Part I of this Schedule; or\n(b) property of the description specified in paragraph 2 above unless the securities are realisable in the short term without any diminution in value; or\n(c) property of the description specified in paragraph 5(b) above which in aggregate value exceeds 10 per cent. of the property linked benefits, unless the contract under which the benefits are payable has been marketed in accordance with any legal restrictions which apply to the marketing of the corresponding collective investment fund; or\n(d) property of any of the descriptions specified in Part I of this Schedule which has the effect of a derivative contract other than a permitted derivative contract.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1995/3248/schedule/1/paragraph/16",
    "retrieved_at": "2026-10-29T12:55:39.681974+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."
}