Insurance (Amendment) Act, 1978

Amendment of section 2 (3) of Insurance Act, 1953.

3.Section 2 (3) of the Insurance Act, 1953 , is hereby amended by the substitution of “one-hundred million pounds” for “thirty million pounds” (inserted by the Insurance Act, 1971 ), and the said section 2 (3), as so amended, is set out in the Table to this section.

TABLE

(3) The aggregate amount of the liability at any time of the Minister for principal moneys in respect of arrangements under this section shall not exceed one-hundred million pounds.