Modifications etc. (not altering text)
C1Sch. 15 modified by Finance Act 1991 (c. 31, SIF 63:1), s. 50, Sch. 9 para. 5 (2)
C2Sch. 15 modified (1.5.1995) by Finance Act 1995 (c. 4), Sch. 10 para. 4(2)(3)
4(1)The provisions of this paragraph have effect notwithstanding anything in paragraph 3 above.
(2)In determining whether a policy—
(a)which affords provision for sickness or other infirmity (whether bodily or mental), and
(b)which also affords assurance for a gross sum independent of sickness or other infirmity, and
(c)under which not less than 60 per cent. of the amount of the premiums is attributable to the provision referred to in paragraph (a) above,
is a qualifying policy, the conditions referred to in paragraph 3(1)(b) above shall be deemed to be fulfilled with respect to it.
(3)A policy shall cease to be a qualifying policy—
(a)if it falls within sub-paragraph (1) of paragraph 3 above and there is such a variation of its terms that any of the conditions referred to in that sub-paragraph ceases to be fulfilled; or
(b)if—
[F1(i)it was effected in the course of business within class VI of Head A or class I of Head B of Schedule 2 to the Friendly Societies Act 1992,]
(ii)it was issued by a new society, and
(iii)the rights conferred by it are surrendered in whole or in part.
Textual Amendments
F1Sch. 15 para. 4(3)(b)(i) substituted (19.2.1993) by Finance (No. 2) Act 1992 (c. 48), s. 56, Sch. 9 paras. 19(6), 22; S.I. 1993/236, art. 2