Assurance Companies. [Ch. 31. No. 19. 987

 

incident to marine adventure or adventure analogous
thereto;

(c) in lieu of the provisions of sections 7 and 8 of
this Ordinance, the following provisions shall be
substituted-

“The company shall annually prepare a
statement of its employers’ liability insurance
business in the form prescribed for use under
section 7 and applicable to employers’ liability
insurance business, and shall cause an investigation
of its estimated liabilities to be made by an
actuary so far as may be necessary to enable the
provisions of that form to be complied with, and
the statement shall be printed or typewritten,
signed, and deposited at the Registrar General's
office in accordance with section 9.”;

(d) the expression “ policy ’’ includes any _ policy
under which there is for the time being an existing
liability already accrued, or under which any liability
may accrue;

(e) where any sum is due, or a weekly payment is
payable, under any policy, the expression “ policy
holder ”’ includes the person to whom the sum ts due
or the weekly payment payable ;

(f) if a company carries on employers’ liability
insurance business outside the Colony, that business
shall not, save as otherwise directed by the Governor
in Council, be treated as part of the employers’ liability
insurance business carried on by the company for the
purposes of this Ordinance.

34. Where a company carries on bond investment Application
busine. this Ordinance shall apply with respect to that fobord
business, subject to the following modifications: companies.

(a) the expression ‘policy ’’ includes any bond,
certificate, receipt, or other instrument evidencing
the contract with the company, and the expression
“policy holder ’’ means the person who for the time
being is the legal holder of such instrument ;

(b) the company shall not give the holder of any
policy issued after the passing of this Ordinance any