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Forfeiture for non-payment of premium.
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66.—(1) No person who has effected a policy of industrial assurance with an industrial assurance company (whether before or after the commencement of this Part of this Act) shall incur any forfeiture of such policy by reason of a default in paying a premium in respect of such policy unless a premium payable in respect of such policy is unpaid for not less than ten weeks after it became due.
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(2) Where a policy of industrial assurance has become forfeited by reason of the non-payment of a premium payable in respect thereof, and it is shown that the collector was negligent or failed to exercise due diligence in the collection of such premiums during the period between the last payment of any such premium and the forfeiture of such policy, and within one year after such forfeiture all unpaid premiums in respect of such policy (including premiums which would have become payable if such policy had not been forfeited) are paid to the industrial assurance company by which such policy was issued, the said forfeiture shall be cancelled and the rights under such policy of the person who effected such policy shall become and be revived.
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