Regulation 42 Exemptions from regulation 41

contracts where none of the proposers or policy holders is an individual;

contracts of term assurance effected for periods of six months or less;

contracts of reinsurance;

contracts which insure a policy holder’s obligations to make payments under a personal credit agreement of the kind mentioned in section 8(1) of the Consumer Credit Act 1974^f2 or a consumer hire agreement of the kind mentioned in section 15(1) of that Act where the terms of that personal credit agreement or consumer hire agreement have been entered into on the understanding that the long-term contract will remain in force.