21.—[F1(1)] [F1Subject to paragraph (2),] a collecting society and an industrial assurance company shall provide premium receipt books for use in respect of policies of industrial assuranceF1. . . , and shall cause a receipt for each payment in respect of such a policy, or of two or more such policies, to be entered in such a book.
[F1(2) A collecting society or industrial assurance company is not required to provide a premium receipt book in accordance with paragraph (1), if it provides either or both—
(a)receipts in respect of each premium received; or
(b)statements recording premiums received.
(3) Paragraph (2) applies only if the company or society has given the owner of the policy of industrial assurance and, if different, the person who ordinarily pays the premiums in relation to that policy—
(a)notice in writing that, from a specified date falling not less than one month after the date of the notice, receipts or statements or both will be provided in respect of that policy; and
(b)a statement of protective provisions, in accordance with Article 22(2).
(4) For the purposes of paragraphs (2) and (3), “receipt” means a document which complies with the requirements specified in Article 21A, and “statement” means a document which complies with the requirements specified in Article 21B.]
F1SI 2001/3647