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Effect of certificate of insurance or of guarantee.
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69.—(1) Whenever a vehicle insurer has issued a certificate of insurance certifying that an approved policy of insurance has been issued by such vehicle insurer to a specified person (in this sub-section referred to as the insured), then—
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(a) if and so long as no such policy as described in such certificate has been issued by such vehicle insurer to the insured, such vehicle insurer shall, as between himself and any other person except the insured, be deemed to have issued to the insured an approved policy of insurance conforming in all respects with the description and particulars stated in such certificate, and
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(b) if such vehicle insurer has issued to the insured such policy as is described in such certificate but the actual terms of such policy are less favourable to persons claiming under or by virtue of such policy against such vehicle insurer, either directly or through the insured, than the particulars of such policy as stated in such certificate, such policy shall, as between such vehicle insurer and any other person except the insured, be deemed to be in terms conforming in all respects with the said particulars stated in the said certificate.
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(2) Whenever a vehicle insurer has issued a certificate of insurance certifying that an approved combined policy and guarantee has been issued by such vehicle insurer to a specified person (in this sub-section referred to as the insured), then—
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(a) if and so long as no such combined policy and guarantee as is described in such certificate has been issued by such vehicle insurer to the insured, such vehicle insurer shall, as between himself and any other person except the insured, be deemed to have issued to the insured an approved combined policy and guarantee conforming in all respects with the description and particulars stated in such certificate, and
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(b) if such vehicle insurer has issued to the insured such combined policy and guarantee as is described in such certificate but the actual terms of such combined policy and guarantee are less favourable to persons claiming under or by virtue of such combined policy and guarantee against such vehicle insurer, either directly or through the insured, than the particulars of such combined policy and guarantee as stated in such certificate, such combined policy and guarantee shall, as between such vehicle insurer and any other person except the insured, be deemed to be in terms conforming in all respects with the said particulars stated in the said certificate.
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(3) Whenever a vehicle guarantor has issued a certificate of guarantee certifying that an approved guarantee has been issued by such vehicle guarantor to a specified person (in this sub-section referred to as the principal debtor), then—
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(a) if and so long as no such guarantee as is described in such certificate has been issued by such vehicle guarantor to the principal debtor, such vehicle guarantor shall, as between himself and any other person except the principal debtor, be deemed to have issued to the principal debtor an approved guarantee conforming in all respects with the description and particulars stated in such certificate, and
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(b) if such vehicle guarantor has issued to the principal debtor such guarantee as is described in such certificate but the actual terms of such guarantee are less favourable to persons claiming under or by virtue of such guarantee against such vehicle guarantor, either directly or through the principal debtor, than the particulars of such guarantee as stated in such certificate such guarantee shall, as between such vehicle guarantor and any other person except the principal debtor, be deemed to be in terms conforming in all respects with the said particulars stated in the said certificate.
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(4) Nothing in this section shall render a certificate of insurance or a certificate of guarantee liable to any stamp duty to which such certificate would not have been liable if this section had not been enacted.
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