Prospective

SCHEDULES

SCHEDULE 4 U.K. Friendly societies: consequential amendments

Part II U.K. Application of the 1975 Act to existing contracts

13 In section 12—

(a) in subsection (1)—

(i) the words “Subject to subsection (1A) below,” shall be omitted, and

(ii) for “is a qualifying policy” there shall be substituted “ was a United Kingdom policy at the beginning of the liquidation ”, and

(b) subsection (1A) shall be omitted.