SCHEDULE 15 QUALIFYING POLICIES
PART II CERTIFICATION OF QUALIFYING POLICIES
Policies issued in respect of insurances made on or after 1st April 1976 or varied on or after that date
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F1(1)
M1A policy of life insurance issued in respect of an insurance made on or after 1st April 1976 or varied on or after that date (other than one to which paragraph 22(2)(c) below applies) shall not be a qualifying policy unless—
(a)
it is certified by the Board as being a qualifying policy; or
(b)
it conforms with a form which at the time the policy is issued or varied is either—
(i)
a standard form certified by the Board as a standard form of qualifying policy; or
(ii)
a form varying from a standard form so certified in no other respect than by making such additions thereto as are, at the time the policy is issued, certified by the Board as compatible with a qualifying policy when made to that standard form and satisfy any conditions subject to which they are so certified;
and any certificate issued in pursuance of paragraph (a) above shall be conclusive evidence that the policy is a qualifying policy.
(2)
In issuing a certificate in pursuance of sub-paragraph (1) above the Board may disregard any provision of the policy, standard form or addition which appears to them insignificant.
(3)
Where the Board refuse to certify a policy as being a qualifying policy, the person to whom it is issued may appeal to the General Commissioners or, if he so elects, to the Special Commissioners.
(4)
Sub-paragraphs (1) to (3) above do not apply in relation to such a policy as is mentioned in paragraphs 3 to 6 above.