Ivory Act 2018
Write the words of this act the way you think they should read. Solon shows your change as a redline against the published text and pins it to that exact text, so it can never be applied to wording you did not see.
Change 1
35 Contracts of insurance etc
(1) A transaction under which a person acquires an item in pursuance of an existing contract of insurance is not a purchase or sale of the item for the purposes of this Act. (2) A transaction under which an item— (a) is acquired by a regulated insurer acting in the course of the insurer's business as such, or (b) is acquired, in pursuance of a regulated insurance contract, by a person who is or was an insured person in relation to the item under that contract, is not a purchase or sale of the item for the purposes of this Act. (3) In this section— “existing contract of insurance” means a contract of insurance entered into before the day on which section 1 comes into force; “insurance” includes reinsurance; “regulated insurance contract” means a contract of insurance effected or carried out by a regulated insurer; “regulated insurer” means a person who has permission to effect or carry out contracts of insurance under Part 4A of the Financial Services and Markets Act 2000.
35 Contracts of insurance etc
(1) A transaction under which a person acquires an item in pursuance of an existing contract of insurance is not a purchase or sale of the item for the purposes of this Act. (2) A transaction under which an item— (a) is acquired by a regulated insurer acting in the course of the insurer's business as such, or (b) is acquired, in pursuance of a regulated insurance contract, by a person who is or was an insured person in relation to the item under that contract, is not a purchase or sale of the item for the purposes of this Act. (3) In this section— “existing contract of insurance” means a contract of insurance entered into before the day on which section 1 comes into force; “insurance” includes reinsurance; “regulated insurance contract” means a contract of insurance effected or carried out by a regulated insurer; “regulated insurer” means a person who has permission to effect or carry out contracts of insurance under Part 4A of the Financial Services and Markets Act 2000.
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