Insurance Act, 1990

Application of certain instruments.

7.—(1) Where—

(a) the business in respect of which a transfer order has been made consists of or includes the business of acting as trustee or in any other fiduciary capacity, and

(b) the Original Company was appointed as trustee or in any other fiduciary capacity by an instrument consisting of a trust deed, settlement, covenant or agreement,

such instrument shall, on and from the transfer date, be construed and have effect as if for any reference therein to the Original Company there were substituted a reference to the New Company.

(2) References to the Original Company contained, immediately before the transfer date, in any order made under section 2 (1) of the Trustee (Authorised Investments) Act, 1958 , shall be construed on and after the transfer date as references to the New Company.