AI-assisted research summary: A policy can still be valid for unnamed people if the policy clearly identifies the class they belong to.
Insurance Companies Amendment Act 1973 An Act to amend the law relating to insurance companies and the carrying on of insurance business; and to validate certain group policies. Section 2 of the Life 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. This section applies to policies effected before the passing of this Act as well as to policies effected thereafter. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . This Act may be cited as the Insurance Companies Amendment Act 1973. Schedules In section 111(1) of the Act of 1967— 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”; in paragraphs (a) and (c) after the words “this Act” there shall be inserted the words “or the Insurance Companies Amendment Act 1973”; 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”. In section 116 of the Act of 1967— 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”; 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”. Act, except ss. 50, 51, 54(1), 56, 57(1), Sch. 1 paras. 15-17, Schs. 3-5, repealed (E.W.S) by Insurance Companies Act 1974 (c. 49), Sch. 2; Act except ss. 50 and 57(1), repealed (N.I) by S.I. 1976/59 (N.I. 3), art. 95(2), Sch. 2 Act, except ss. 50, 51, 54(1), 56, 57(1), Sch. 1 paras. 15–17, Schs. 3–5, repealed (E.W.S.) by Insurance Companies Act 1974 (c. 49), Sch. 2 Act, except ss. 50 and 57(1), repealed (N.I.) by S.I. 1976/59 (N.I. 3), art. 95(2), Sch. 2 Act, except ss. 50, 51, 54(1), 56, 57(1), Sch. 1 paras. 15–17, Schs. 3–5, repealed (E.W.S.) by Insurance Companies Act 1974 (c. 49), Sch. 2; Act, except ss. 50 and 57(1), repealed (N.I.) by S.I. 1976/59 (N.I. 3), art. 95(2), Sch. 2 1774 c. 48. S. 51 repealed (1.12.2001) by S.I. 2001/3647, art. 5, Sch. 3 para. 11 S. 54 repealed (5.11.1993) by 1993 c. 50, s. 1(1), Sch. 1 Pt.V. Act, 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 S. 56 repealed by Insurance Companies Act 1980 (c. 25, SIF 67), s. 4(3), Sch. 5 Sch. 1 repealed (5.11.1993) by 1993 c. 50, s. 1(1), Sch. 1 Pt.V. Schedules 3—5 repealed by Insurance Act 1980 (c. 25, SIF 67), s. 4(3), Sch. 5 Sch. 1 para. 15 repealed by Insurance Act 1980 (c. 25, SIF 67), s. 4(3), Sch. 5 Pt. I The 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. Act, except ss. 50 and 57(1), repealed (N.I.), by S.I. 1976/59 (N.I 3), art. 95(2), 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