Document ID: chunk:federal_register_of_legislation:C2020A00135:clause:2_2
Version: federal_register_of_legislation:C2020A00135
Segment Type: clause
Provision Reference: sch 2 cl 2
Character Range: 24988–25967

2  Application
(1) The amendments made by this Part apply to a contract of life insurance that is originally entered into after the commencement of this item.
(2) If:
 (a) a contract of life insurance that was originally entered into before the commencement of this item is varied after that commencement to:
 (i) increase a sum insured under the contract in respect of one or more of the life insureds; or
 (ii) provide one or more additional kinds of insurance cover; and
 (b) the variation was not an automatic variation but was required to be expressly agreed between the insurer and the insured before the contract was varied;
then:
 (c) the contract is treated, to the extent of the variation, as if it had been originally entered into after the commencement of this item; and
 (d) the amendments made by this Schedule apply to the contract to the extent of the variation.

Part 2—Duty to take reasonable care not to make a misrepresentation

Insurance Contracts Act 1984