22Treatment of business as, or as not being, long term business for the purposes of section 21 and Schedule 3
(1)The provisions to which section 56 of the [1974 c. 49.] Insurance Companies Act 1974 (treatment of certain business as or as not being ordinary long term insurance business) applies shall include section 21 of and Schedule 3 to this Act; and accordingly at the end of subsection (4) of section 56 there shall be added the words " and section 21 of the Policyholders Protection Act 1975 and Schedule 3 to that Act ".
(2)The provisions to which section 37 of the [1973 c. 58.] Insurance Companies Amendment Act 1973 (which makes similar provision for Northern Ireland to that made for Great Britain by the said section 56) applies shall include section 21 of and Schedule 3 to this Act; and accordingly, in subsection (4) of section 37, after the word " above" there shall be inserted the words " section 21 of the Policyholders Protection Act 1975 and Schedule 3 to that Act ".