23Special provision for persons insured under contracts of insurance not evidenced by policies
(1)Where it appears to the Board—
(a)that a person is a person insured under a contract of insurance with an authorised insurance company which is not evidenced by any policy ; and
(b)that if a policy evidencing the contract had been issued the person in question would have been eligible as a policyholder in respect of that policy for the assistance or protection of the Board under any provision of sections 6 to 16 above (hereafter in this section referred to as " the relevant provision ");
the Board may take such measures for the assistance or protection of the person in question as they would in their view have been required of authorised to take under the relevant provision if such a policy had been issued and the person in question had been the policyholder.
(2)For the purposes of section 18 above any expenditure of the Board under this section shall be treated as expenditure under the relevant provision.