The Policyholders Protection Act 1975 (c.75) The Policyholders Protection Act 1975 (c.75) Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below: Sch. 2 para. 34 repealed by Horserace Betting and Olympic Lottery Act 2004 Sch. 6 38Paragraph 38 The Policyholders Protection Act 1975 (c.75)