{
  "url": "https://openlegislation.uk/policyholders-protection-act-1975-repealed/section-10",
  "json_url": "https://openlegislation.uk/policyholders-protection-act-1975-repealed/section-10.json",
  "legislation": "ukpga/1975/75",
  "legislation_title": "Policyholders Protection Act 1975 (repealed)",
  "legislation_url": "https://openlegislation.uk/policyholders-protection-act-1975-repealed",
  "path": "section/10",
  "kind": "section",
  "number": "10",
  "heading": "Long term policies.",
  "text": "(1) In this Act “long term policy” means any policy evidencing a contract the effecting of which constituted the carrying on of long term business. . . , not being a contract of reinsurance.\n(2) Subject to sections 13 and 14 below, it shall be the duty of the Board to secure that a sum equal to ninety per cent. of the amount of any liability of a company in liquidation towards any policyholder under the terms of a long term policy which was a United Kingdom policy at the beginning of the liquidation is paid to the policyholder as soon as reasonably practicable after the beginning of the liquidation.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words repealed by Insurance Companies Act 1981 (c. 31, SIF 67), s. 36, Sch. 5 Pt. I"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "S. 10 modified (24.9.1996) by 1996 c. 48, ss. 4(1)-(3), 8(3)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1975/75/section/10",
    "retrieved_at": "2026-10-29T10:35:29.949042+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."
}