# Ivory Act 2018, Section 35: Contracts of insurance etc


(1) A transaction under which a person acquires an item in pursuance of an existing contract of insurance is not a purchase or sale of the item for the purposes of this Act.
(2) A transaction under which an item—
(a) is acquired by a regulated insurer acting in the course of the insurer's business as such, or
(b) is acquired, in pursuance of a regulated insurance contract, by a person who is or was an insured person in relation to the item under that contract,
is not a purchase or sale of the item for the purposes of this Act.
(3) In this section—
“existing contract of insurance” means a contract of insurance entered into before the day on which section 1 comes into force;
“insurance” includes reinsurance;
“regulated insurance contract” means a contract of insurance effected or carried out by a regulated insurer;
“regulated insurer” means a person who has permission to effect or carry out contracts of insurance under Part 4A of the Financial Services and Markets Act 2000.

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Source: https://www.legislation.gov.uk/ukpga/2018/30/section/35 (the official version)
Page: https://openlegislation.uk/ivory-act-2018/section-35
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.