Prospective
8(1)In section 10 (long term policies), in subsection (1) for the words “this Act" there shall be substituted “ the application of this Act to insurance companies ”.
(2)At the end of that section there shall be added the following subsection—
“(3)In this Act references to a “long term policy” include, in relation to a friendly society, references to a contract the effecting of which constituted the carrying on of long term business of any class, not being a contract of reinsurance.”