Article 8 Insurance of Libyan aircraft
(1)
This article applies to any contract of insurance, other than a contract of reinsurance, upon any Libyan aircraft or upon the machinery, tackle, furniture or equipment of any such aircraft.
(2)
Except under the authority of a licence granted by the Treasury under this article or by the Secretary of State under the 1992 Order, no person mentioned in article 14 shall—
(a)
make payment in full or partial settlement of any claim under a contract of insurance to which this article applies, unless the claim is in respect of an incident occurring before the coming into force of the 1992 Order;
(b)
effect any new contract of insurance, or agree to any variation or extension of any existing contract of insurance, to which this article applies.