Industrial Assurance and Friendly Societies Act 1948 (Repealed)

1 Cesser of powers to insure for funeral expenses. E+W+S

The powers to insure conferred on [F1 collecting societies] and on industrial assurance companies by the following enactments in . . . F2 the M1 Industrial Assurance Act 1923 and the M2 Industrial Assurance and Friendly Societies Act 1929 (in this Act referred to respectively as . . . F2 the Act of 1923 and the Act of 1929) shall cease to be exercisable at the expiration of one year from the day appointed for the coming into operation of section twenty-two of the M3 National Insurance Act 1946 that is to say—

(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F3

(b) section three of the Act of 1923 (which relates to insuring money for funeral expenses); and

(c) section one of the Act of 1929 (which relates to insuring money to be paid on the duration of a life for a specified period, either with or without provision for a payment in the event of a death before the expiration of the period but subject to a limitation of any payment at death to an amount reasonable for funeral expenses):

Provided that—

(a) this section shall apply only to insurances where the funeral expenses in question are those, or the life in question is that, of a person who at the time of the proposal is ordinarily resident in [F4 Great Britain or the Isle of Man]; and

(b) nothing in this section shall prejudice any insurance effected in exercise of any of the said powers before the expiration of one year from the day appointed as aforesaid, or any rights or liabilities in respect of any such insurance.

Textual Amendments

F1 Words substituted by Friendly Societies Act 1974 (c. 46), Sch. 9 para. 6

F2 Words repealed by Friendly Societies Act 1974 (c. 46), Sch. 11

F3 S. 1(a) repealed by Friendly Societies Act 1974 (c. 46), Sch. 11

F4 Words substituted by S.I. 1948/2578 (Rev. VIII, p. 927: 1948 I, p. 1617)

Marginal Citations

M1 1923 c. 8.

M2 1929 c. 28.

M3 1946 c. 67.