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Amendment of section 27 of Act of 1936.
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11.—(1) Section 27 of the Act of 1936 is hereby amended by—
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(a) the substitution of “one hundred thousand pounds” for “twenty thousand pounds” and the deletion of “mechanically propelled vehicle insurance business,” in subsection (1),
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(b) the deletion of subsection (2), and
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(c) the substitution for subsection (4) of the following subsection, namely:
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“(4) in subsection (3) of this section ‘relevant assurance business’ means any assurance business other than life assurance business, industrial assurance business, bond investment business and glass insurance business.”
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(2) This section shall come into operation six months after the date of the passing of this Act.
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