Insurance Act, 1936

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Saving for certain policies issued before 3rd December, 1909.

71.—(1) Where a policy of industrial assurance was effected before the 3rd day of December, 1909, and the person by whom such policy was so effected had, at the time such policy was effected, a bona fide expectation that he would incur expenses in connection with the death or funeral of the person whose life was assured by such policy, such policy shall not be deemed to be void merely on any or all of the following grounds, that is to say:—

(a) that the person who effected such policy had not, at the time such policy was effected, an insurable interest in the life of the person whose life was assured by such policy, or

(b) that the name of the person interested in such policy, or for whose benefit or on whose account such policy was effected, was not stated therein, or

(c) that the assurance was not one authorised by the Acts relating to friendly societies.

(2) Every policy of industrial assurance to which the foregoing sub-section of this section applies shall enure for the benefit of the person or of the assigns of the person for whose benefit such policy was effected.