986

Application
to em-
plovers’
hability
insurance
companies.

Ch. 31. No. 19.) Assurance Companies.

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;

(d) the provisions of this Ordinance with respect
to the amalgamation of companies shall not apply
where the only classes of assurance business carried on
by both of the companies are accident insurance
business, or accident insurance business and _ fire
insurance business, and the provisions of this Ordinance
with respect to the transfer of assurance business from
one company to another shall not apply to accident
insurance business;

(ce) 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;

(f) where a sum is due, or a weekly or other periodical
payment is payable, under any policy, the expression

‘policy holder " include. the person to whom the
sum is due or the weekly or other periodical payment
is payable.

33. Where a company carric. on employers’ liability
insurance busine. this Ordinance shall apply with respect
to that business, subject to the following modifications :—

(a) this Ordinance shall not apply where the com-
pany is an association of employers which satisfies the
Registrar General that it is carrying on, or is about
to carry on, business wholly or mainly for the purpose
of the mutual insurance of 1ts members against liability
to pay compensation or damages to workmen employed
by them, either alone or in conjunction with insurance
against any other risk incident to their trade or
industry ;

(6) this Ordinance shall not apply where the com-
pany carries on the employers’ lability insurance
business as incidental only to the business of marine
insurance by issuing marine policies, or policies in the
form of marine policies, covering liability to pay
compensation or damages to workmen as well as losses