1996 No. 89 LIFE INSURANCE REGULATIONS (AMENDMENT) - REG 2 2. Schedule 2 (Modification of Division 4 of Part 10 of the Act (Surrender values, paid-up policies and non-forfeiture of policies))

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1996 No. 89 LIFE INSURANCE REGULATIONS (AMENDMENT) - REG 2

2. Schedule 2 (Modification of Division 4 of Part 10 of the Act (Surrender values, paid-up policies and non-forfeiture of policies))

2.1 Add at the end:
  "8   Industrial  A policy that, immediately before the commencement

of the Act, was an industrial policy within the
meaning of subsection 4 (1) of the Life Insurance
Act 1945 and that is treated as ordinary business
under the Act.
8.1 In spite of section 210 of the Act,
section 101 of the Life Insurance Act
1945, as in force immediately before
the commencement of the Act, continues
to apply to policies to which that
section applied at that time.".

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