Where a company carries on accident insurance business, this Act shall apply with respect to that business, subject to the following modifications:

(a) In lieu of the provisions of sections five and six of this Act the following provisions shall be substituted:

"The company shall annually prepare a statement of its accident insurance business in the form set forth in the Fourth Schedule to this Act and applicable to accident insurance business, and the statement shall be printed, signed, and deposited with the Bank in accordance with section seven of this Act":

(b) [deleted]

(c) [deleted]

(d) So much of this Act as requires an assurance company transacting other business besides assurance business, or more than one class of assurance business, to keep separate funds into which all receipts in respect of the assurance business or of each class of assurance business are to be paid shall not apply as respects accident insurance business:

(e) [deleted]

(f) The expression "policy" includes any policy under which there is for the time being an existing liability already accrued, or under which a liability may accrue:

(g) Where a sum is due, or a weekly or other periodical payment is payable, under any policy, the expression "policy holder" includes the person to whom the sum is due or the weekly or other periodical payment payable.