98.—(1) Amend section 79 (payments under certain life insurance policies) as follows.
(2) In subsection (5) for paragraph (a) substitute—
“(a) is a contract which falls within paragraph I or III of Part II of Schedule 1 to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001;”.
(3) In subsection (6) for the words from “of a” to the end substitute “which falls within Part I or II of Schedule 1 to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 other than a contract which falls within paragraph I or III of Part II of that Schedule.”.