INDUSTRIAL ASSURANCE (NORTHERN IRELAND) ORDER 1979

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INDUSTRIAL ASSURANCE (NORTHERN IRELAND) ORDER 1979 - SECT 32



32.(1) A member of or person assured with a collecting society or an
industrial assurance company shall not, except

(a)as respects a collecting society, in the case of an amalgamation, transfer
of engagements or conversion into a company under the Friendly Societies Act
or this Order; or

(b)as respects an industrial assurance company, in the case of an amalgamation
or transfer of business under the [Insurance Companies Act 1974] or this
Order;

(2) A consent under paragraph (1) shall be in the prescribed form and shall
have annexed to it a document in the prescribed form (to be furnished by the
collecting society or industrial assurance company to which the transfer is to
be made) setting out

(a)the terms of, and rights under, the existing policy;

(b)the terms of, and rights under, the policy to which the assured will become
entitled on transfer;

(c)the consideration (if any) which has been or is to be paid for the
transfer; and

(d)the person to whom such consideration has been or will be paid.

(3) The collecting society or industrial assurance company to which the
assured is sought to be transferred shall furnish to the person by whom such
consent as aforesaid is signed a copy of the consent and of the document
annexed thereto, and shall, within seven days from the date when the consent
is signed, give to the society or company from which the assured is sought to
be transferred notice of the proposed transfer containing full particulars of
the name and address of the assured and the number of his policy, together
with the consent and the document annexed to it.

(4) As from the date of the notice mentioned in paragraph (3), the collecting
society or industrial assurance company from which the person is sought to be
transferred shall cease to be under any liability with respect to the policy
in question and shall not be required to serve any notice of forfeiture of the
policy in accordance with Article 29.

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Northern Irish Legislation

INDUSTRIAL ASSURANCE (NORTHERN IRELAND) ORDER 1979 - SECT 32