C1Part II Regulation of Insurance Companies
Annotations:
Modifications etc. (not altering text)
Liabilities of unlimited amount
36 Avoidance of contracts for unlimited amounts.
A contract entered into after the coming into force of this section by an insurance company to which this Part of this Act applies shall be void if—
a
it is a contract under which the company undertakes a liability the amount, or maximum amount, of which is uncertain at the time when the contract is entered into; and
b
it is not a contract of insurance or a contract of a class or description exempted by regulations from the operation of this section.
Pt. II (ss. 15-71) restricted (1.1.1993) by S.I. 1992/3218, reg65
Pt. II (ss. 15-71) extended (24.12.1996) by S.I. 1996/3011, reg. 3(1)(b), 10(1)