Miscellaneous and general
17
1
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1
2
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F2
3
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F3
17AF4 Policies given emergency protection.
1
Where, in relation to any policy of assurance which has been protected under the M1Industrial Assurance and Friendly Societies (Emergency Protection from Forfeiture) Act 1940, the amount of a free paid-up policy or of a surrender value is required to be ascertained, the provisions of the policy, or of any guarantee given in relation thereto, or of the Industrial Assurance Acts 1923 and 1929, relating to free paid-up policies and surrender values shall have effect subject to such modifications as appear to the F5Commission to be necessary having regard to the failure to pay premiums during the period of protection and the variation of the terms of the policy under section 3 of the said Act.
2
In relation to a policy of assurance effected with a registered society other than a collecting society, the reference in subsection (1) above to the Industrial Assurance Commissioner is a reference to him in his capacity as Chief Registrar of Friendly Societies.
3
Section 24(1) of this Act, so far as relating to the Isle of Man and the Channel Islands, shall not apply to subsections (1) and (2) above, but those subsections shall extend to any place to which the repeal of the said Act of 1940 by the M2Statute Law (Repeals) Act 1974 is extended by Order in Council under section 3(2) of that Act.
18
1
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F6
2
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F7
3
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F8
19 Provisions as to investment by registered societies and certain other bodies.
1
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F9
X1C15
It is hereby declared that nothing in section forty-four of the Act of 1896 (which enacts that the trustees of a registered society may invest its funds to any amount in the ways therein mentioned, including investment in the Post Office Savings Bank or in any savings bank certified under the Trustee Savings Banks Act 1863), . . . F10 is to be construed as imposing any obligation on any savings bank authority as respects their or his receiving any such funds, money or capital.
In this subsection the expression “savings bank authority” has the meaning assigned to it by subsection (3) of section ten of the M3Savings Banks Act 1920.
X16
This section shall extend to Northern Ireland.
20F11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
21F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
23 Interpretation.
1
In this Act, except where the context otherwise requires,—
a
the expression “society” means a society for any of the purposes specified in F13Schedule 1 to the M4Friendly Societies Act 1974 the expression “registered society” means a society registered under that Act, F14or the M5Friendly Societies Act 1896 and references to a society or to a registered society or to a registered friendly society include references to a branch of such a society;
b
the expression “policy” includes any contract of assurance, and for the purposes of this Act the date of the making of any such contract shall be deemed to be the date of the issue of a policy;
c
the expression “proposal” in relation to an insurance, includes an application for an insurance, and the expression “proposer” shall be construed accordingly; F15. . .
e
the expression “the Commission” means the Friendly Societies Commission.
2
In this Act the expression “parent” includes a stepfather and a stepmother.
3
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F18
24 Extent.
1
This Act shall extend to Great Britain, the Isle of Man and the Channel Islands.
2
Except as regards . . . F19 section nineteen thereof, this Act shall not extend to Northern Ireland.
25 Short title, citation, construction and repeal.
1
This Act may be cited as the Industrial Assurance and Friendly Societies Act 1948.
2
This Act and the Industrial Assurance Acts, 1923 to 1929, may be cited together as the Industrial Assurance Acts, 1923 to 1948, . . . F20
3
References in this Act to any other enactment shall, except so far as the context otherwise requires, be construed as references to that enactment as amended by or under any other enactment, including this Act.
4
This Act, in its application to collecting societies and industrial assurance companies, shall be construed as one with the Industrial Insurance Acts, 1923 to 1929, . . . F20
5
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F21