Civil Liability (Amendment) Act 2017
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PART 3 Amendments to Other Acts | ||
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Amendment of section 3 of Insurance Act 1964 | ||
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3. Section 3 of the Insurance Act 1964 is amended— | ||
(a) by the insertion of the following subsection after subsection (4): | ||
“(4A) Where a sum is due to a person under a policy by reason of a periodic payments order, the limitation prescribed by subsection (4) on payment out of the Fund shall not apply to the sum required to meet the liability of the insured under the periodic payments order.”, | ||
(b) in subsection (5), by the substitution of “Subject to subsection (4A), where” for “Where”, and | ||
(c) by the substitution of the following for subsection (8): | ||
“(8) In this section— | ||
‘insurer in liquidation’ means an insolvent insurer or an insolvent insurer authorised in another Member State in respect of which a liquidator, or a person who performs the equivalent function to a liquidator in the Member State concerned, has been appointed; | ||
‘periodic payments order’ has the same meaning as it has in Part IVB of the Civil Liability Act 1961 .”. |