Paragraph 5

United Kingdom

(1)

Section 10 shall be amended as follows.

(2)

In subsection (2)—

(a)

after “14” there shall be inserted “ and subsection (2A) ”, and

(b)

for “was a United Kingdom policy at the beginning of the liquidation” there shall be substituted “ is a qualifying policy ”.

(3)

After that subsection there shall be inserted—

“(2A)
The duty of the Board under subsection (2) above shall not apply unless the liability is in respect of a protected commitment.”

Notes on the whole Act