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F1 An Act to amend the law relating to insurance companies and the carrying on of insurance business; and to validate certain group policies.
[25th July 1973]
Textual Amendments
F1Act, except ss. 50, 51, 54(1), 56, 57(1), Sch. 1 paras. 15-17, Schs. 3-5, repealed (E.W.S) by Insurance Companies Act 1974 (c. 49), Sch. 2; Act except ss. 50 and 57(1), repealed (N.I) by S.I. 1976/59 (N.I. 3), art. 95(2), Sch. 2
Modifications etc. (not altering text)
C1Act, except ss. 50, 51, 54(1), 56, 57(1), Sch. 1 paras. 15–17, Schs. 3–5, repealed (E.W.S.) by Insurance Companies Act 1974 (c. 49), Sch. 2
C2Act, except ss. 50 and 57(1), repealed (N.I.) by S.I. 1976/59 (N.I. 3), art. 95(2), Sch. 2
Textual Amendments
F2Act, except ss. 50, 51, 54(1), 56, 57(1), Sch. 1 paras. 15–17, Schs. 3–5, repealed (E.W.S.) by Insurance Companies Act 1974 (c. 49), Sch. 2; Act, except ss. 50 and 57(1), repealed (N.I.) by S.I. 1976/59 (N.I. 3), art. 95(2), Sch. 2
Textual Amendments
F3Act, except ss. 50, 51, 54(1), 56, 57(1), Sch. 1 paras. 15–17, Schs. 3–5, repealed (E.W.S.) by Insurance Companies Act 1974 (c. 49), Sch. 2; Act, except ss. 50 and 57(1), repealed (N.I.) by S.I. 1976/59 (N.I. 3), art. 95(2), Sch. 2
(1)Section 2 of the M1Life Assurance Act 1774 (policy on life or lives or other event or events not valid unless name or names of assured etc. inserted when policy is made) shall not invalidate a policy for the benefit of unnamed persons from time to time falling within a specified class or description if the class or description is stated in the policy with sufficient particularity to make it possible to establish the identity of all persons who at any given time are entitled to benefit under the policy.
(2)This section applies to policies effected before the passing of this Act as well as to policies effected thereafter.
Marginal Citations
The repeal by the Act of 1967 of subsection (2) of section 20 of the Act of 1958 (withdrawal of statutory deposits by insurance companies which satisfy the Board of Trade as to paid up share capital or margin of solvency) shall be deemed not to have extended to that subsection in its application to collecting societies as defined in section 1 of the M2Industrial Assurance Act 1923; and in its application to such societies that subsection shall have effect and be deemed always to have had effect as if for the reference to the Board of Trade there were substituted a reference to the Industrial Assurance Commissioner.
Textual Amendments
F4Act, except ss. 50 and 57(1), repealed (N.I.) by S.I. 1976/59 (N.I. 3), art. 95(2), Sch. 2
Modifications etc. (not altering text)
C3The “Act of 1967” means Companies Act 1967 (c. 81) and “Act of 1958” means Insurance Companies Act 1958 (c. 72)
C4The text of s. 51 is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and, except as specified, does not reflect any amendments or repeals which may have been made prior to 1.2.1991.
Marginal Citations
Textual Amendments
F5Act, except ss. 50, 51, 54(1), 56, 57(1), Sch. 1 paras. 15–17, Schs. 3–5, repealed (E.W.S.) by Insurance Companies Act 1974 (c. 49), Sch. 2; Act, except ss. 50 and 57(1), repealed (N.I.) by S.I. 1976/59 (N.I. 3), art. 95(2), Sch. 2
(1)The enactments mentioned in Schedule 1 to this Act shall have effect subject to the amendments there specified, being minor amendments and amendments consequential on the provisions of this Act.
(2)—(8). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F7
Textual Amendments
F6Act, except ss. 50 and 57(1), repealed (N.I.) by S.I. 1976/59 (N.I. 3), art. 95(2), Sch. 2
F7Act, except ss. 50, 51, 54(1), 56, 57(1), Sch. 1 paras. 15–17, Schs. 3–5, repealed (E.W.S.) by Insurance Companies Act 1974 (c. 49), Sch. 2; Act, except ss. 50, and 57(1), repealed (N.I.) by S.I. 1976/59 (N.I. 3), art. 95(2), Sch. 2
Modifications etc. (not altering text)
C5The text of s. 54(1) and Sch. 1 paras. 16 and 17 is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and, except as specified, does not reflect any amendments or repeals which may have been made prior to 1.2.1991.
Textual Amendments
F8Act, except ss. 50, 51, 54(1), 56, 57(1), Sch. 1 paras. 15–17, Schs. 3–5, repealed (E.W.S.) by Insurance Companies Act 1974 (c. 49), Sch. 2; Act, except ss. 50 and 57(1), repealed (N.I.), by S.I. 1976/59 (N.I. 3), art. 95(2), Sch. 2
Textual Amendments
F9S. 56 repealed by Insurance Companies Act 1980 (c. 25, SIF 67), s. 4(3), Sch. 5
(1)This Act may be cited as the Insurance Companies Amendment Act 1973.
(2)–(8). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F10
Textual Amendments
F10Act, except ss. 50, 51, 54(1), 56, 57(1), Sch. 1 paras. 15–17, Schs. 3–5, repealed (E.W.S.) by Insurance Companies Act 1974 (c. 49), Sch. 2; Act, except ss. 50 and 57(1), repealed (N.I.), by S.I. 1976/59 (N.I. 3), art. 95(2), Sch. 2
Schedules
1—14.
Textual Amendments
F11Act, except ss. 50, 51, 54(1), 56, 57(1), Sch. 1 paras. 15–17, Schs. 3–5, repealed (E.W.S.) by Insurance Companies Act 1974 (c. 49), Sch. 2; Act, except ss. 50 and 57(1), repealed (N.I.), by S.I. 1976/59 (N.I. 3), art. 95(2), Sch. 2
15
Textual Amendments
F1316In section 111(1) of the Act of 1967—
(a)after the words “the Protection of Depositors Act 1963” where they first occur there shall be inserted the words “or section 20(2) to (4) of the Insurance Companies Amendment Act 1973”;
(b)in paragraphs (a) and (c) after the words “this Act” there shall be inserted the words “or the Insurance Companies Amendment Act 1973”;
(c)in paragraph (c) for the words “consider whether or not they should exercise with respect to the body” there shall be substituted the word “exercise”.
Textual Amendments
F13Act, except ss. 50 and 57(1), repealed (N.I.), by S.I. 1976/59 (N.I 3), art. 95(2), Sch. 2
Modifications etc. (not altering text)
C6The text of s. 54(1) and Sch. 1 paras. 16 and 17 is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and, except as specified, does not reflect any amendments or repeals which may have been made prior to 1.2.1991.
F1417In section 116 of the Act of 1967—
(a)in subsection (1) after the words “of this Act” there shall be inserted the words “or any requirements imposed under section 20(2) to (4) of the Insurance Companies Amendment Act 1973”;
(b)in subsection (2) at the end there shall be added the words “or section 20(2) to (4) of the Insurance Companies Amendment Act 1973”.
Textual Amendments
F14Act, except ss. 50 and 57(1), repealed (N.I) by S.I. 1976/59 (N.I. 3), art. 95(2), Sch. 2
Modifications etc. (not altering text)
C7The text of s. 54(1) and Sch. 1 paras. 16 and 17 is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and, except as specified, does not reflect any amendments or repeals which may have been made prior to 1.2.1991.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F15Act, except ss. 50, 51, 54(1), 56, 57(1), Sch. 1 paras. 15–17, Schs. 3–5, repealed (E.W.S.) by Insurance Companies Act 1974 (c. 49), Sch. 2; Act, except ss. 50 and 57(1), repealed (N.I.), by S.I. 1976/59 (N.I. 3), art. 95(2), Sch. 2
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F16Schedules 3—5 repealed by Insurance Act 1980 (c. 25, SIF 67), s. 4(3), Sch. 5
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