THE INDUSTRIAL ASSURANCE (PERMIUM RECEIPT BOOKS) REGULATIONS, 1948.

Statutory Instruments

1948 No. 2770

FRIENDLY, ETC., SOCIETIES

The Industrial Assurance (Permium Receipt Books) Regulations, 1948

Made

17th December 1948

Laid before Parliament

21st December 1948

Coming into Operation

5th January 1949

With the approval of the Treasury, I, Bernard Kerr White, Industrial Assurance Commissioner, in pursuance of sub-section two of Section Eight of the Industrial Assurance and Friendly Societies Act, 1948, and of all other powers enabling me in that behalf, hereby make the following Regulations:—

1.  A premium receipt book provided for use in respect of any policy or policies effected on or after the 5th day of July, 1949, shall contain the following particulars in respect of each such policy to which the book relates:—

(a)the number (if any) and date of the policy;

(b)the name and age of the life assured, as stated on the proposal;

(c)the name of the proposer as stated on the proposal; and

(d)the amount of the premium and the interval at which it is payable.

2.  An entry relating to a policy proposed by any person and effected on or after the 5th day of July, 1949, shall not be made in any book containing an entry (other than an entry made in accordance with the proviso to this Regulation) relating to any policy not proposed by that person:

Provided that this Regulation shall not prohibit the making in a book in respect of any policy proposed by that person of an entry relating to a policy the proposer of which is a child, stepchild or grandchild of that person and is under sixteen years of age when the entry is made, or is the spouse of that person.

3.  Any collector who receives a payment in respect of a policy or policies shall enter in the appropriate book the amount of the payment and shall initial the entry.

4.—(1) An entry relating to a policy on which none of the premium payments is in arrear shall not be made in a book relating to a policy on which a premium payment is in arrear, unless the book contains a previous entry relating to the first-mentioned policy.

(2) An entry relating to a policy on which a premium payment is in arrear shall not be made in a book relating to a policy or policies on none of which a premium payment is in arrear, unless the book contains a previous entry relating to the first-mentioned policy.

(3) For the purposes of this Regulations two books, one of which has been provided to replace or continue the other, shall be deemed to be the same book, and in the case of any books divided into sections containing separate entries in respect of one or more policies, each such section shall be deemed to be a separate book.

5.  A Society or a Company or a collector shall not cause or permit a premium receipt book to be provided or any entry to be made therein which does not comply with any of the provisions of these Regulations.

6.—(1) The Interpretation Act, 1889, shall apply to the interpretation of these Regulations as it applies to the interpretation of an Act of Parliament.

(2) In these Regulations—

(a)“premium receipt book” or “book” means a premium receipt book provided for the purposes of Section 8 (1) of the Industrial Assurance and Friendly Societies Act, 1948;

(b)“policy” means a policy of industrial assurance;

(c)“society” and “company” means a collecting society and an industrial assurance company respectively;

(d)“proposer” includes a person on whose behalf a policy has been proposed and does not include a person who has proposed a policy on behalf of another, and the word “proposed” shall be construed accordingly; and

(e)“name” means surname together with the initial letter or letters of any christian name or names.

(3) These Regulations may be cited as the Industrial Assurance (Premium Receipt Books) Regulations, 1948, and shall come into operation on the 5th day of January, 1949.

B. K. White

Industrial Assurance Commissioner

We approve these Regulations.

Wm. Hannan

R. J. Taylor

Two of the Lords Commissioners of His Majesty's Treasury

17th December, 1948

EXPLANATORY NOTE

These Regulations prescribe the particulars to be entered and the conditions governing the making of entries in premium receipt books provided in connection with industrial assurance policies effected on or after 5th July, 1949.