| New Schedule.—(AMENDMENTS OF INSURANCE COMPANIES ACT 1958 CONSEQUENTIAL ON SECTIONS 59 AND 70(1) OF THIS ACT.) | |
| Provision amended and Subject-matter thereof | Amendment |
| Section 3 (separation of funds relating to certain classes of business). | In subsection (1)(b), for the words 'two or more of the said classes' there shall be substituted the words 'both the said classes'. |
| In subsection (5), for the words 'life assurance business, industrial assurance business, bond investment business and employers' liability insurance business' there shall be substituted the words 'ordinary long-term insurance business and industrial assurance business'. | |
| Section 5 (periodic investigation of certain companies by actuary). | In subsection (1), for the words 'life assurance business, industrial assurance business or bond investment business' there shall be substituted the words 'ordinary long-term insurance business or industrial assurance business'. |
| Section 11 (provisions as to certain amalgamations and transfers). | In subsection (1), in paragraphs (a) and (b),the words 'or employers' liability insurance business' shall be omitted and, in the proviso, the words 'carrying on life assurance business or industrial assurance business', the word 'that', where secondly occurring, and the word 'life', where, last occurring, shall be omitted, and after the words 'in the company' there shall be inserted the words 'that is attributable to the carrying on of ordinary long-term insurance and industrial assurance business'. |
| In subsection (2)(b), the words 'except' in relation to a transfer of employers' liability insurance business' shall be omitted, and for the words ' sinking fund or bond investment' there shall be substituted the words 'or capital redemption'. | |
| Section 33 (interpretation). | In subsection (1), immediately before the definition of 'chairman' there shall be inserted the following definition:— |
| '"capital redemption business" means such business as, by virtue of paragraph (c) of subsection (6A) of section fifty-nine of the Companies Act 1967, falls within the definition in that subsection of ordinary long-term insurance business', | |
| in the definition of 'general business', the words 'of a class or classes specified in section one of this Act' shall be omitted, in the definition of 'long-term business', for the words 'business of all or any of the following classes, namely, life assurance business, industrial assurance business and bond investment business' |
§ Amendment No. 282 made: In page 88, line 16, leave out Clause 117.—[Mr. Darling.]