Textual Amendments
F1Sch. 7A inserted (1.10.1994) by S.I. 1994/1698, art. 5
2(1)A contract falls within this paragraph if it is one whose effecting and carrying out constitutes business of one or more of the classes specified in Schedule 1 to the Insurance Companies Act 1982 F2 (long term business) and constitutes only such business.
(2)In deciding whether the effecting and carrying out of a contract constitutes only such business as is mentioned in sub-paragraph (1) above where—
(a)the contract includes cover for risks not falling within the descriptions in any of the classes specified in Schedule 1 to the Insurance Companies Act 1982;
(b)the effecting and carrying out of the contract is treated for the purposes of that Act as constituting business of one or more of those classes and only such business by virtue of the application to it of section 1(3) of that Act; and>
(c)the contract was not entered into after 30th November 1993,
the inclusion of such cover shall be ignored.