Section 424

In this Act, references to— are to be read with section 22 and Schedule 2. contracts of insurance, reinsurance, contracts of long-term insurance, contracts of general insurance, In this Act “policy” and “policyholder”, in relation to a contract of insurance, have such meaning as the Treasury may by order specify. The law applicable to a contract of insurance, the effecting of which constitutes the carrying on of a regulated activity, is to be determined, if it is of a prescribed description, in accordance with regulations made by the Treasury.

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Source: legislation.gov.uk · retrieved 2026-09-04