policy of assurance "policy of assurance" means any policy securing the payment of a capital sum or annuity on the occurrence of a specified event which is certain to happen and includes - (a) any policy by which the payment of money is assured on death (except death by accident only) or the happening of any contingency dependent on human life; and (b) any policy securing the payment of an immediate annuity; and the reference in this DEFINITION to the occurrence of a specified event which is certain to happen shall include the occurrence, which is certain to happen, of one of specified events none of which by itself is certain to happen; ACT 17 - EXCHANGE CONTROL ACT 1953 (Revised 1969) 2. Interpretation.
policy of assurance "policy of assurance" means any policy securing the payment of a capital sum or annuity on the occurrence of a specified event which is certain to happen and includes - (a) any policy by which the payment of money is assured on death (except death by accident only) or the happening of any contingency dependent on human life; and (b) any policy securing the payment of an immediate annuity, and the reference in this DEFINITION to the occurrence of a specified event which is certain to happen shall include the occurrence, which is certain to happen, of one of specified events none of which by itself is certain to happen; ACT 17 - EXCHANGE CONTROL ACT 1953 (Revised 1969) 2. Interpretation.
See Also: Translator EN-BM