Textual Amendments
F1Words in cross heading preceding s. 5 inserted (prosp.) by Friendly Societies Act 1992 (c. 40), ss. 97, 126(2), Sch. 17 para. 4 (with ss. 7(5), 93(4))
Without prejudice to section 6 above, but subject to sections 9, 13 and 14 below, it shall be the duty of the Board to secure that a sum equal to the full amount of any liability of a company in liquidation in respect of a sum payable to a person entitled to the benefit of a judgment under—
(a)section 149 of the M1Road Traffic Act 1972 [F2or section 151 of the Road Traffic Act 1988] (duty of insurers to satisfy judgment against persons insured or secured against third-party risks); or
(b)[F3Article 98 of the Road Traffic (Northern Ireland) Order 1981] (court orders for recovery from insurers of sums due under unsatisfied judgments against persons insured or secured by them);
is paid to that person as soon as reasonably practicable after the beginning of the liquidation.
Textual Amendments
F2Words inserted by Road Traffic (Consequential Provisions) Act 1988 (c. 54, SIF 107:1), ss. 4, 5, Sch. 3 para. 14(2), Sch. 4 paras. 1, 2
F3Words substituted by S.I. 1981/160, art. 6(b)
Marginal Citations
Textual Amendments
F1Words in cross heading preceding s. 5 inserted (prosp.) by Friendly Societies Act 1992 (c. 40), ss. 97, 126(2), Sch. 17 para. 4 (with ss. 7(5), 93(4))
Without prejudice to section 6 above, but subject to sections 9, 13 and 14 below, it shall be the duty of the Board to secure that a sum equal to the full amount of any liability of a company in liquidation in respect of a sum payable to a person entitled to the benefit of a judgment under—
(a)section 149 of the M1Road Traffic Act 1972 [F2or section 151 of the Road Traffic Act 1988] (duty of insurers to satisfy judgment against persons insured or secured against third-party risks); or
(b)[F3Article 98 of the Road Traffic (Northern Ireland) Order 1981] (court orders for recovery from insurers of sums due under unsatisfied judgments against persons insured or secured by them);
is paid to that person as soon as reasonably practicable after the beginning of the liquidation.
Textual Amendments
F2Words inserted by Road Traffic (Consequential Provisions) Act 1988 (c. 54, SIF 107:1), ss. 4, 5, Sch. 3 para. 14(2), Sch. 4 paras. 1, 2
F3Words substituted by S.I. 1981/160, art. 6(b)
Marginal Citations