Transitional provisions
33.—(1) Every document submitted to the Secretary of State pursuant to section 22 of the Act in respect of a financial year of a company preceding that financial year of the company to which these Regulations first apply shall be in the form in which it would have been if these Regulations (other than regulation 34) had not been made; and regulation 35 below shall be construed accordingly.
(2) Any reference in any provision of these Regulations to a document submitted to the Secretary of State or prepared in respect of a financial year of a company which is a financial year of the company preceding that to which these Regulations first apply shall be construed as a reference to the document so submitted or prepared in accordance with the corresponding provisions of the Regulations hereby revoked.
(3) Business in respect of a financial year of a company preceding that financial year of the company to which these Regulations first apply which has been reported pursuant to the 1983 Regulations in any of Forms 24 to 29 shall be deemed to be business accounted for on an underwriting year basis for the purposes of regulation 9 above.
(4) Notwithstanding regulation 12 above, business in respect of a financial year of a company preceding that financial year of the company to which these Regulations first apply shall continue to be classified into risk groups according to the requirements contained in regulation 10 of the 1983 Regulations.