9For section 4 there shall be substituted—
“4Protection confined to United Kingdom policies.
(1)A policyholder is eligible for the assistance or protection of the Board in accordance with any provision of sections 8A to 16 below only in respect of a policy of insurance which was a United Kingdom policy for the purposes of this Act at the material time for the purposes of the provision in question.
(2)A contract of insurance with a friendly society is a United Kingdom policy for the purposes of this Act at any time when the performance by the society of any of its obligations under the contract would constitute the carrying on by the society in the United Kingdom of insurance business of any class.”