Decimal Currency Act, 1969
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Payments under friendly society and industrial assurance company contracts. |
16.—(1) The Minister for Industry and Commerce may by regulations under this section provide for a method or methods by which premiums or other payments which are payable to a registered friendly society or an industrial assurance company under a friendly society contract or an industrial assurance contract, as the case may be, and which consist of or include a halfpenny shall be varied to take account of the calling in of coins of the denomination halfpenny. | |
(2) In this section— | ||
“assurance company”, “industrial assurance business” and “premium” have the same meanings as in the Insurance Act, 1936 ; | ||
“friendly society contract” means a contract made by a registered friendly society in the course of its business in the State, whether contained in the rules of the society or not; | ||
“industrial assurance company” means an assurance company which carries on industrial assurance business in the State; | ||
“industrial assurance contract” means a contract of assurance made by a person carrying on industrial assurance business in the course of his industrial assurance business in the State; | ||
“registered friendly society” means a society registered in the State under the Friendly Societies Acts, 1896 to 1953. |