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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 27 March 2013 - onwards

88. Amendment of section 74 (exemption of certain policies of assurance) of Principal Act.

Section 74 of the Principal Act is amended in subsection (1) by substituting the following for the definition of "new policy":

"'new policy' means -

(a) a policy of assurance on the life of any person issued, or

(b) a contract within the meaning of Article 2(2) (b) of Directive 2002/83/EC of the European Parliament and of the Council of 5 November 2002 [OJ No. L345, 19.12.2002, p.1] entered into,

on or after 1 January 2001 by an assurance company in the course of carrying on the business of life assurance;".