(1)Section 66A(3) and (4) do not apply in relation to a premium if the risk to which that premium relates belongs to a class of risk as regards which the normal practice is for a premium to be received by or on behalf of the insurer before the date when cover begins.
(2)Section 66A(5) and (6) do not apply in relation to a premium if the risk to which that premium relates belongs to a class of risk as regards which the normal practice is for cover to be provided for a period of more than twelve months.
(3)If a contract relates to more than one risk, then in the application of section 66A(3) and (4) or 66A(5) and (6)—
(a)the reference in section 66A(3)(b) or (5)(b) to the risk is to be read as a reference to any given risk,
(b)so much of the premium as is attributable to any given risk is to be taken for the purposes of section 66A(3) and (4) or 66A(5) and (6) to be a separate premium relating to that risk,
(c)those provisions then apply separately in the case of each given risk and the separate premium relating to it, and
(d)any further attribution required by section 66A(5) and (6) is to be made accordingly,
and subsections (1) and (2) and section 66A(9) apply accordingly.
(4)Any attribution under this section is to be made on such basis as is just and reasonable.]
Textual Amendments
F1Ss. 66A-66C inserted (with effect in accordance with s. 18(4) of the amending Act) by Finance Act 2017 (c. 10), s. 18(2)