Consultation Paper No. 4 of 2020 - Proposed amendments to the Application of English Law Regulations 2015

CONSULTATION PAPER
NO. 4 OF 2020
PROPOSED AMENDMENTS TO
THE APPLICATION OF ENGLISH
LAW REGULATIONS 2015
18 October 2020

Consultation Paper No. 4 of 2020
CONTENTS
INTRODUCTION............................................................................ ……………………3
Why are we issuing this paper?............................................................................... 3
Who should read this paper? .................................................................................. 3
How to provide comments....................................................................................... 3
What happens next?............................................................................................... 3
BACKGROUND ......................................................................................................... 5
Bill of Exchange Act 1882….………………………………………………………………6
Insurance Act 2015.....................................................................................................6
Trustee Act 1925………………………………………………………………………….. .7 OTHER MATTERS…………………………………....................................................... .8 Partners of a limited partnership to notify the Registrar when the partnership is dissolved……………………………………………………………………………………..8 Increase in fine, Limited Partnership Act 1907……................................................. .8 Further amendment to AELRs………………………................................................. .8
ANNEXURE AND ATTACHMENTS….. ...................................................................... 9

Consultation Paper No. 4 of 2020
Why are we issuing this paper?

1. Abu Dhabi Global Market (ADGM) has issued this Consultation Paper to invite public
   comment on ADGM’s proposals to update the Application of English Law Regulations 2015 (AELRs). These proposals are intended to enhance the current AELRs by reflecting and incorporating amendments made in England to certain English civil and commercial statutes incorporated in 2015 into ADGM regulations, as well as introducing further English statutes where appropriate. Who should read this paper?
2. The proposals in this Consultation Paper will be of interest to all individuals and
   organisations operating within the ADGM and those with an interest in establishing a presence in the ADGM, as well as their legal advisors. How to provide comments
3. All comments should be in writing and sent to the address or email specified below. If
   sending your comments by email, please use the Consultation Paper number in the subject line. ADGM reserves the right to publish, including on its website, any comments you provide, unless you expressly request otherwise at the time of making comments. Comments supported by reasoning and evidence will be given more weight by ADGM. What happens next?
4. The deadline for providing comments on this proposal is Sunday, 15 November 2020.
   Once we receive your comments, we will consider whether any modifications are required to this proposal. We will then proceed to enact the proposed amendments. You should not act on these proposals until the relevant regulations are issued. We will issue a notice on our website when this happens. Introduction

Consultation Paper No. 4 of 2020
Comments to be addressed to:
Consultation Paper No. 4 of 2020
Abu Dhabi Global Market
ADGM Square
Al Maryah Island
PO Box 111999
Abu Dhabi, UAE
Email: consultation@adgm.com

Consultation Paper No. 4 of 2020

1. The AELRs are the cornerstone of ADGM’s legislative framework, and give effect to
   the direct application of English common law within ADGM, together with the 47 English civil and commercial statutes listed in the Schedule to the AELRs (Schedule) applicable in ADGM (English Statutes).
2. Since the introduction of the AELRs in ADGM in 2015, some of the English Statutes
   have been amended in England. Currently, those amendments made in England have no legal effect in ADGM, unless they are incorporated by the Board of ADGM into AELRs.
3. The ADGM considers that, where appropriate, amendments made in England to certain
   English Statutes in the Schedule should be incorporated into ADGM, so as to provide ADGM with a comprehensive and up to date legal framework as well as to minimize differences between the two legislative frameworks. Accordingly, ADGM has analysed and considered the various amendments made since 2015 according to the following general criteria:
    the relevance of the amendment to ADGM and its activities;  the advantage of making such an amendment to ADGM and its establishments; and  in order for the AELRs to continue to meet international standards and expectations, in light of global developments.
4. In addition to the amendments to current statutes in the Schedule, new civil and
   commercial legislation has been enacted in England since 2015, and ADGM has taken the opportunity to consider whether this legislation, not presently adopted, should be introduced into ADGM.
5. Having considered the above matters, it is proposed to amend the following:
    Bills of Exchange Act 1882 as it applies in ADGM, by incorporating section 13 of the Small Business, Enterprise and Employment Act 2015 (UK);  Trustee Act 1925 as it applies in ADGM, by incorporating certain sections of the Inheritance and Trustees Powers Act 2014 (UK); and  Marine Insurance Act 1906 as it applies in ADGM, through the introduction of the Insurance Act 2015 (UK), in so far as it relates to marine insurance. Background

Consultation Paper No. 4 of 2020
6. Further, we have taken the opportunity to amend the Limited Partnership Act 1907 by
introducing a requirement that partners of a limited partnership must notify the Registrar of the Registration Authority when the partnership is dissolved. Bills of Exchange Act 1882
7. The Small Business, Enterprise and Employment Act 2015 (UK) amended, amongst
other legislation, the Bills of Exchange Act 1882, which is one of the English Statutes.
8. Section 13 of the Small Business, Enterprise and Employment Act (UK) amends the
Bills of Exchange Act 2015 so as to allow:
 cheques, and other similar instruments, to be presented by providing an electronic image, in place of presentment of the cheque itself; and  regulations to be made enabling compensation to be claimed from the bank which receives payment of the instrument for any specified kind of loss suffered in connection with the electronic presentment. Insurance Act 2015
9. The Insurance Act 2015 (UK) updated the law in the UK in relation to insurance
contracts so as to be in line with best practice in the modern insurance market. It introduces provisions in relation to the duty of fair presentation, breaches of warranties in insurance contracts, insurers’ remedies for fraudulent claims, good faith and contracting out. It also amended the Marine Insurance Act 1906 (UK), which is another of the English Statutes in the Schedule. 10 Having considered the purposes and effects of the Insurance Act and the amendments it makes to the Marine Insurance Act, ADGM proposes to introduce the application of the Insurance Act and apply such amendments across into the ADGM, with some necessary changes. ADGM also proposes to introduce the Insurance Act into ADGM in respect of marine insurance contracts only.
11. The proposed amendments include:
 introduce new requirements on the insured regarding disclosure, including that they must (i) make a fair presentation of the risk before an insurance contract is entered into (ii) disclose to the insurer every material circumstance which it knows or ought to know and (iii) not to make misrepresentations;  provide that a breach of warranty by the insured suspends the insurer’s liability from the time of the breach until the breach is remedied;  provide that it is an implied term of every contract of insurance that if the insured makes a claim under the contract, the insurer must pay any sums due in respect of the claim within a reasonable time; and

Consultation Paper No. 4 of 2020
 abolish the rule of law permitting a party to a contract of insurance to avoid a contract on the ground that the utmost good faith has not been observed by the other party. ISSUES FOR CONSIDERATION Q1: DO YOU AGREE THAT THE INSURANCE ACT2015, INCLUDING ITS AMENDMENTS TO THE MARINE INSURANCE ACT 1906, SHOULD BE ADOPTED IN ADGM IN RESPECT OF MARINE INSURANCE CONTRACTS? Trustee Act 1925
12. The Inheritance and Trustees Powers Act 2014 (UK) amended the Trustee Act 1925
(UK), another of the English Statutes in the Schedule. The amendments included:
 amending section 31 of the Trustee Act to (i) provide that the trustees' ability to pay amounts to a minor's parent or guardian for the minor's maintenance, education or benefit is as the trustees think fit, rather than (as before) as was reasonable, and (ii) to remove the list of considerations to which the trustees must have regard when making such a determination, including where income is available for more than one fund;  amending section 32 of the Trustee Act to make two changes in relation to trustees’ statutory powers of advancement. The first amendment removes the limitation on the trustee’s power to advance of a maximum of one-half of the beneficiary’s prospective share. The second amendment clarifies that the trustees are able not only to pay out cash in the exercise of the statutory power of advancement but also to transfer or apply property.
13. In addition, a new section 32(1A) to the Trustee Act clarifies that if trustees have
exercised their power of advancement, the money or other property advanced to a beneficiary may be treated as a percentage of the overall value of the trust. ISSUES FOR CONSIDERATION Q2: DO YOU AGREE THAT THE TRUSTEE ACT SHOULD BE AMENDED IN ACCORDANCE WITH THE INHERITANCE AND TRUSTEES POWERS ACT 2014 (UK)?

Consultation Paper No. 4 of 2020
Partners of a limited partnership to notify the Registrar when the partnership is dissolved
14. We propose to amend the Limited Partnership Act 1907 by introducing a requirement
that partners of a limited partnership notify the Registrar of the Registration Authority when the partnership is dissolved. The Registrar will then amend the Register accordingly.
15. Partners may agree amongst themselves that the partnership may be
dissolved. However, in the absence of a published notice, former partners may remain liable for subsequent transactions with third parties who understand themselves to be contracting with the partnership, unless they have actual notice of its dissolution. Thus, the ability to remove a limited partnership from the list of registered limited partnerships maintained by the Registrar, in a manner which enables the Registrar to publish the date of dissolution, is of material benefit to all former limited partners and other users of the Register. Such publication will also be considered as notice to potential creditors that the partners are no longer acting in partnership with one another as of the date of dissolution. Accordingly, the legal effect of (i) filing of the proposed notice of dissolution form and (ii) the publication of its substance will have the effect of terminating the partnership. Increase in fine, Limited Partnership Act 1907
16. We have also taken the opportunity to consider the current contraventions and fines
relevant to the Limited Partnership Act 1907 (as it applies in ADGM pursuant to the provisions of the AELRs). It is proposed that these provisions be amended to reflect the seriousness of the breaches and the need for compliance with them.
17. For example, section 9 provides that if during the continuance of a limited partnership
a change is made or occurs in for example (i) the firm name, (ii) the principal place of business, and (iii) the general partners or the name of any general partner, a statement, signed by the firm, specifying the nature of the change shall within seven business days be sent to the Registrar. We propose that it further provide that if there is a breach of this notification requirement, the Registrar may impose a fine not exceeding level 3 on the standard fines scale (that is, USD 5,000). Further amendment to AELRs
18. As noted above, the English Statutes came into effect upon publication of the AELRs.
The amendments to those Statutes, and the proposed Insurance Act, will come into effect as of the date of the publication of the amending Regulations. To accommodate this difference, we propose to amend section 2(1) of the AELRs. Other Matters

Consultation Paper No. 4 of 2020
 Annex A: Proposed Application of English Law Regulations (Amendment No. 1)  Attachment A: Proposed Amendments to Trustee Act 1925  Attachment B: Proposed Amendments to Bills of Exchange Act 1882  Attachment C: Proposed Amendments to Marine Insurance Act 1906  Attachment D: Proposed Amendments to Limited Partnership Act 1907  Attachment E: Proposed Insurance Act 2015  Attachment F: Proposed Application of English Law Regulations 2015 showing effect of proposed amendments

ANNEXURE AND ATTACHMENTS

---

Annex A
LNDOCS01/1191076.3
APPLICATION OF ENGLISH LAW REGULATIONS (AMENDMENT NO.1) 2020

Annex A
TABLE OF CONTENTS
Section Page

1. Amendment to the Application of English Law Regulations 2015..............................1
2. Short title, extent and commencement.....................................................................4

Annex A
APPLICATION OF ENGLISH LAW REGULATIONS (AMENDMENT NO.1) 2020 Regulations to amend the Application of English Law Regulations 2015. Date of Enactment: [2020] The Board of Directors of the Abu Dhabi Global Market, in exercise of its powers under
Article 6(1) of Law No. 4 of 2013 concerning the Abu Dhabi Global Market issued by His
Highness the Ruler of the Emirate of Abu Dhabi, hereby enacts the following Regulations -

1. Amendment to the Application of English Law Regulations 2015
   (1) In section 2(1) of the Application of English Law Regulations 2015, after the words “date of enactment of these Regulations”, add the words “or at the date of such amendments to these Regulations as are set out in the first column of the Schedule,”. (2) In the Schedule to the Application of English Law Regulations 2015:
   (a) After the words “Bills of Exchange Act 1882 (Chapter 61)” in column 1, add the words “as amended by the Small Business, Enterprise and Employment Act 2015”. (b) In the second column of the row in which Bills of Exchange Act 1882 (Chapter
   61) appears in the first column, after the words “"at least two leading English
   language newspapers of the United Arab Emirates".”, add the words “(9) Any references to the “Treasury” or to “regulations” in Part 4A of the Act shall be read as references to the Board or to rules respectively. (10) The words in parenthesis at the end of section 89B(2) shall be omitted. (11) Sections 89F(2), (3) and (4) shall be omitted and Sections 89(F)(5) and (6) renumbered accordingly.” and renumber subsequent items accordingly. (c) After the words “Trustee Act 1925 (Chapter 19)” in column 1, add the words “, as amended by sections 8 and 9 of the Inheritance and Trustees Powers Act 2014”. (d) After the words “Limited Partnerships Act 1907 (Chapter 24)” in column 1:
   (i) after the words “the debts and obligations of the firm” in item (2), add the following subsections:
   “(4) In the event of a dissolution of a limited partnership — (a) the general partners shall, within one month of the dissolution of the limited partnership, file a notice of dissolution of the limited partnership with the Registrar; (b) if there are no general partners then, subject to any agreement among the partners to the contrary, the limited partners shall,

Annex A
within one month of the dissolution of the limited partnership, file a notice of dissolution of the limited partnership with the Registrar. (5) Upon receipt of the notice of dissolution, the Registrar shall amend the Register so to indicate that the limited partnership has been dissolved”, and renumber subsequent items accordingly; (ii) replace the words “level 2” in item (12) with the words “level 3”. (e) After the words “Marine Insurance Act 1906 (Chapter 41)” in column 1, add the words “, as amended by the Insurance Act 2015”. (f) The words “Insurance Act 2015 (Chapter 4)” are inserted into a new row in column 1 and the following words are inserted into the second column of this new row:
“The whole Act, subject to the following modifications:
(1) The term “contract of insurance” shall be replaced with “contract of marine insurance” throughout. (2) The term “contracts of insurance” shall be replaced with “contracts of marine insurance” throughout (3) The term “non-consumer insurance contract” shall be replaced with “contract of marine insurance” throughout. (4) The term “non-consumer insurance contracts” shall be replaced with “contracts of marine insurance” throughout. (5) In section 1: (i) the words "(apart from Part 6)" shall be omitted; (ii) the definitions of "consumer insurance contract" and "non-consumer insurance contract" shall be omitted; and (iii) the words: '"contract of marine insurance" has the same meaning as in the Marine Insurance Act 1906;' shall be inserted. (6) In section 14(2), the words “and the Consumer Insurance (Disclosure and Representations) Act 2012” shall be omitted. (7) Section 14(3)(b) shall be omitted. (8) Section 14(4) shall be omitted. (9) Section 15 shall be omitted. (10) In section 16A, the title of the section shall be amended to:
“Contracting out of the implied term about payment of claims:

Annex A
contracts of marine insurance”.
(11) Section 16A(1) shall be omitted.
(12) In section 18, the wording ‘”consumer C” means an individual who is one of the Cs, where the cover provided by the contract for that individual would have been a consumer insurance contract if entered into by that person rather than by A, and “non-consumer C” means any of the Cs who is not a consumer C’ shall be omitted. (13) Section 18(2) shall be omitted. (14) In sections 18(3) and 18(4), the words “non-consumer C” shall be replaced with “C”. (15) Part 6 shall be omitted. (16) Section 21(4) shall be omitted. (17) Section 21(5) shall be omitted. (18) Section 21(6) shall be omitted. (19) In section 23(2), the words "Part 6 and" shall be omitted. (20) Section 23(3) shall be omitted. (21) In Schedule 1, paragraph 2, the words “which are non-consumer insurance contracts” shall be omitted. (22) Schedule 2 shall be omitted.”
2. Short title, extent and commencement
(1) These Regulations may be cited as the Application of English Law Regulations (Amendment No.1) 2020. (2) These Regulations shall apply in the Abu Dhabi Global Market. (3) These Regulations come into force on the date of their publication. The Board may by rules make any transitional, transitory, consequential, saving, incidental or supplementary provision in relation to the commencement of these Regulations as the Board thinks fit.

---

Trustee Act 1925
Chapter 19
Part II
General Powers of Trustees and Personal Representatives 12 Power of trustees for sale to sell by auction, etc (1) Where a trustee has a duty or power to sell property, he may sell or concur with any other person in selling all or any part of the property, either subject to prior charges or not, and either together or in lots, by public auction or by private contract, subject to any such conditions respecting title or evidence of title or other matter as the trustee thinks fit, with power to vary any contract for sale, and to buy in at any auction, or to rescind any contract for sale and to re-sell, without being answerable for any loss. (2) A duty or power to sell or dispose of land includes a trust duty or power to sell or dispose of part thereof, whether the division is horizontal, vertical, or made in any other way. 13 Power to sell subject to depreciatory conditions (1) No sale made by a trustee shall be impeached by any beneficiary upon the ground that any of the conditions subject to which the sale was made may have been unnecessarily depreciatory, unless it also appears that the consideration for the sale was thereby rendered inadequate. (2) No sale made by a trustee shall, after the execution of the conveyance, be impeached as against the purchaser upon the ground that any of the conditions subject to which the sale was made may have been unnecessarily depreciatory, unless it appears that the purchaser was acting in collusion with the trustee at the time when the contract for sale was made. (3) No purchaser, upon any sale made by a trustee, shall be at liberty to make any objec￾tion against the title upon any of the grounds aforesaid. 14 Power of trustees to give receipts (1) The receipt in writing of a trustee for any money, securities, investments or other per￾sonal property or effects payable, transferable, or deliverable to him under any trust or power shall be a sufficient discharge to the person paying, transferring, or delivering the same and shall effectually exonerate him from seeing to the application or being answerable for any loss or misapplication thereof. (3) This section applies notwithstanding anything to the contrary in the instrument, if any, creating the trust. 15 Power to compound liabilities

A personal representative, or two or more trustees acting together, or a sole acting trustee, may, if and as he or they think fit— (a) accept any property, real or personal, before the time at which it is made trans￾ferable or payable; or (b) sever and apportion any blended trust funds or property; or (c) pay or allow any debt or claim on any evidence that he or they think sufficient; or (d) accept any composition or any security, real or personal, for any debt or for any property, real or personal, claimed; or (e) allow any time of payment of any debt; or (f) compromise, compound, abandon, submit to arbitration, or otherwise settle any debt, account, claim, or thing whatever relating to the testator’s or intestate’s estate or to the trust; and for any of these purposes may enter into, give, execute, and do such agreements, instruments of composition or arrangement, releases, and other things as to him or them seem expedient, without being responsible for any loss occasioned by any act or thing so done by him or them if he has or they have discharged the duty of care set out in section 1(1) of the Trustee Act 2000. 16 Power to raise money by sale, mortgage, etc. (1) Where trustees are authorised by the instrument, if any, creating the trust or by law to pay or apply capital money subject to the trust for any purpose or in any manner, they shall have and shall be deemed always to have had power to raise the money required by sale, conversion, calling in, or mortgage of all or any part of the trust property for the time being in possession. (2) This section applies notwithstanding anything to the contrary contained in the instru￾ment, if any, creating the trust, but does not apply to trustees of property held for char￾itable purposes. 17 Protection to purchasers and mortgagees dealing with trustees No purchaser or mortgagee paying or advancing money on a sale or mortgage purport￾ing to be made under any trust or power vested in trustees, shall be concerned to see that such money is wanted; or that no more than is wanted is raised, or otherwise as to the application thereof. 18 Devolution of powers or trusts (1) Where a power or trust is given to or imposed on two or more trustees jointly, the same may be exercised or performed by the survivors or survivor of them for the time being.

(2) Until the appointment of new trustees, the personal representatives or representative for the time being of a sole trustee, or, where there were two or more trustees of the last surviving or continuing trustee, shall be capable of exercising or performing any power or trust which was given to, or capable of being exercised by, the sole or last surviving or continuing trustee, or other the trustees or trustee for the time being of the trust. 19 Power to insure (1) A trustee may— (a) insure any property which is subject to the trust against risks of loss or damage due to any event; and (b) pay the premiums out of the trust funds. (2) In the case of property held on a bare trust, the power to insure is subject to any direc￾tion given by the beneficiary or each of the beneficiaries— (a) that any property specified in the direction is not to be insured; (b) that any property specified in the direction is not to be insured except on such conditions as may be so specified. (3) Property is held on a bare trust if it is held on trust for— (a) a beneficiary who is of full age and capacity and absolutely entitled to the prop￾erty subject to the trust; or (b) beneficiaries each of whom is of full age and capacity and who (taken together) are absolutely entitled to the property subject to the trust. (4) If a direction under subsection (2) of this section is given, the power to insure, so far as it is subject to the direction, ceases to be a delegable function for the purposes of sec￾tion 11 of the Trustee Act 2000 (power to employ agents). (5) In this section “trust funds” means any income or capital funds of the trust. 20 Application of insurance money where policy kept up under any trust, power or obligation (1) Money receivable by trustees or any beneficiary under a policy of insurance against the loss or damage of any property subject to a trust shall, where the policy has been kept up under any trust in that behalf or under any power statutory or otherwise, or in performance of any covenant or of any obligation statutory or otherwise, be capital money for the purposes of the trust. (2) If any such money is receivable by any person, other than the trustees of the trust, that person shall use his best endeavours to recover and receive the money, and shall pay the net residue thereof, after discharging any costs of recovering and receiving it, to

the trustees of the trust, or, if there are no trustees capable of giving a discharge there￾for, into court. (3) Any such money— (c) if it was receivable in respect of land subject to a trust of land or personal prop￾erty held on trust for sale, shall be held upon the trusts and subject to the powers and provisions applicable to money arising by a sale under such trust; (d) in any other case, shall be held upon trusts corresponding as nearly as may be with the trusts affecting the property in respect of which it was payable. (4) Such money, or any part thereof, may also be applied by the trustees, or, if in court, under the direction of the court, in rebuilding, reinstating, replacing, or replacing the property loss or damaged, but any such application by the trustees shall be subject to the consent of any person whose consent is required by the instrument, if any, creating the trust to the investment of money subject to the trust. (5) Nothing contained in this section prejudices or affects the right of any person to require any such money or any part thereof to be applied in rebuilding reinstating, or repairing the property lost or damaged, or the rights of any mortgagee, lessor, or lessee, whether under any statute or otherwise. 22 Reversionary interests, valuations, and audit (1) Where trust property includes any share or interest in property not vested in the trus￾tees, or the proceeds of the sale of any such property, or any other thing in action, the trustees on the same falling into possession, or becoming payable or transferable may— (a) agree or ascertain the amount or value thereof or any part thereof in such man￾ner as they may think fit; (b) accept in or towards satisfaction thereof, at the market or current value, or upon any valuation or estimate of value which they may think fit, any authorised in￾vestments; (c) allow any deductions for duties, costs, charges and expenses which they may think proper or reasonable; (d) execute any release in respect of the premises so as effectually to discharge all accountable parties from all liability in respect of any matters coming within the scope of such release; without being responsible in any such case for any loss occasioned by any act or thing so done by them if they have discharged the duty of care set out in section 1(1) of the Trustee Act 2000. (2) The trustees shall not be under any obligation and shall not be chargeable with any breach of trust by reason of any omission—

(a) to apply for any stop or other like order upon any securities or other property out of or on which such share or interest or other thing in action as aforesaid is derived, payable or charged; or (b) to take any proceedings on account of any act, default, or neglect on the part of the persons in whom such securities or other property or any of them or any
part thereof are for the time being, or had at any time been, vested;
unless and until required in writing so to do by some person, or the guardian of some person, beneficially interested under the trust, and unless also due provision is made to their satisfaction for payment of the costs of any proceedings required to be taken, Provided that nothing in this subsection shall relieve the trustees of the obligation to get in and obtain payment or transfer of such share or interest or other thing in action on the same falling into possession. (3) Trustees may, for the purpose of giving effect to the trust, or any of the provisions of the instrument, if any, creating the trust or of any statute, from time to time (by duly qualified agents) ascertain and fix the value of any trust property in such manner as they think proper, and any valuation so made shall be binding upon all persons interested under the trust if the trustees have discharged the duty of care set out in section 1(1) of the Trustee Act 2000. (4) Trustees may, in their absolute discretion, from time to time, but not more than once in every three years unless the nature of the trust or any special dealings with the trust property make a more frequent exercise of the right reasonable, cause the accounts of the trust property to be examined or audited by an independent accountant, and shall, for that purpose, produce such vouchers and give such information to him as he may require; and the costs of such examination or audit, including the fee of the auditor, shall be paid out of the capital or income of the trust property, or partly in one way and partly in the other as the trustees, in their absolute discretion, think fit, but, in default of any direction by the trustees to the contrary in any special case, costs attributable to capital shall be borne by capital and those attributable to income by income. 24 Power to concur with others Where an undivided share in any property, is subject to a trust, or forms part of the estate of a testator or intestate, the trustees or personal representatives may (without prejudice to the trust affecting the entirety of the land and the powers of the trustees in reference thereto), execute or exercise any duty or power vested in them in relation to such share in conjunction with the persons entitled to or having power in that behalf over the other share or shares, and notwithstanding that any one or more of the trustees or personal representatives may be entitled to or interested in any such other share, either in his or their own right or in a fiduciary capacity. 25 Delegation of trustee’s functions by power of attorney (1) Notwithstanding any rule of law or equity to the contrary, a trustee may, by power of attorney, delegate the execution or exercise of all or any of the trusts, powers and

discretions vested in him as trustee either alone or jointly with any other person or persons. (2) A delegation under this section— (a) commences as provided by the instrument creating the power or, if the instru￾ment makes no provision as to the commencement of the delegation, with the date of the execution of the instrument by the donor; and (b) continues for a period of twelve months or any shorter period provided by the instrument creating the power. (3) The persons who may be donees of a power of attorney under this section include a trust corporation. (4) Before or within seven days after giving a power of attorney under this section the donor shall give written notice of it (specifying the date on which the power comes into oper￾ation and its duration, the donee of the power, the reason why the power is given and, where some only are delegated, the trusts, powers and discretions delegated) to— (a) each person (other than himself), if any, who under any instrument creating the trust has power (whether alone or jointly) to appoint a new trustee; and (b) each of the other trustees, if any; but failure to comply with this subsection shall not, in favour of a person dealing with the donee of the power, invalidate any act done or instrument executed by the donee. (5) A power of attorney given under this section by a single donor— (a) in the form set out in subsection (6) of this section; or (b) in a form to the like effect but expressed to be made under this subsection, shall operate to delegate to the person identified in the form as the single donee of the power the execution and exercise of all the trusts, powers and discretions vested in the donor as trustee (either alone or jointly with any other person or persons) under the single trust so identified. (6) The form referred to in subsection (5) of this section is as follows— “THIS GENERAL TRUSTEE POWER OF ATTORNEY is made on [date] by [name of one donor] of [address of donor] as trustee of [name or details of one trust]. I appoint [name of one donee] of [address of donee] to be my attorney [if desired, the date on which the delegation commences or the period for which it continues (or both)] in accordance with section 25(5) of the Trustee Act 1925.

[To be executed as a deed]”.
(7) The donor of a power of attorney given under this section shall be liable for the acts or defaults of the donee in the same manner as if they were the acts or defaults of the donor. (8) For the purpose of executing or exercising the trusts or powers delegated to him, the donee may exercise any of the powers conferred on the donor as trustee by statute or by the instrument creating the trust, including power, for the purpose of the transfer of any inscribed stock, himself to delegate to an attorney power to transfer, but not includ￾ing the power of delegation conferred by this section. (9) The fact that it appears from any power of attorney given under this section, or from any evidence required for the purposes of any such power of attorney or otherwise, that in dealing with any stock the donee of the power is acting in the execution of a trust shall not be deemed for any purpose to affect any person in whose books the stock is inscribed or registered with any notice of the trust. (10) This section applies to a personal representative as it applies to a trustee except that subsection (4) shall apply as if it required the notice there mentioned to be given in the case of a personal representative, to each of the other personal representatives, if any. Indemnities 26 Protection against liability in respect of rents and covenants (1) Where a personal representative or trustee liable as such for— (a) any rent, covenant, or agreement reserved by or contained in any lease; or (b) any indemnity given in respect of any rent, covenant or agreement referred to in the foregoing paragraph; satisfies all liabilities under the lease which may have accrued and been claimed up to the date of the conveyance hereinafter mentioned, and, where necessary, sets apart a sufficient fund to answer any future claim that may be made in respect of any fixed and ascertained sum which the lessee agreed to lay out on the property demised, although the period for laying out the same may not have arrived, then and in any such case the personal representative or trustee may convey the property demised to a purchaser, legatee, devisee, or other person entitled to call for a conveyance thereof and thereaf￾ter— (i) he may distribute the residuary real and personal estate of the deceased testa￾tor or intestate, or, as the case may be, the trust estate (other than the fund, if any, set apart as aforesaid) to or amongst the persons entitled thereto, without appropriating any part, or any further part, as the case may be, of the estate of the deceased or of the trust estate to meet any future liability under the said lease;

(ii) notwithstanding such distribution, he shall not be personally liable in respect of any subsequent claim under the said lease. (2) This section operates without prejudice to the right of the lessor, or the persons deriving title under the lessor, to follow the assets of the deceased or the trust property into the hands of the persons amongst whom the same may have been respectively distributed, and applies notwithstanding anything to the contrary in the will or other instrument, if any, creating the trust. (3) In this section “lease” includes an underlease and an agreement for a lease or under￾lease and any instrument giving any such indemnity as aforesaid or varying the liabili￾ties under the lease; “lessee” include persons deriving title under them. 27 Protection by means of advertisements (1) With a view to the conveyance to or distribution among the persons entitled to any real or personal property, trustees of land, trustees for sale of personal property or personal representatives, may give notice by advertisement in such manner as may be pre￾scribed by the Board in rules made by the Board, and in a newspaper circulating in the district in which the land is situated and such other like notices, including notices else￾where than in the Abu Dhabi Global Market, as would, in any special case, have been directed by a court of competent jurisdiction in an action for administration, of their intention to make such conveyance or distribution as aforesaid, and requiring any per￾son interested to send to the trustees or personal representatives within the time, not being less than two months, fixed in the notice or, where more than one notice is given, in the last of the notices, particulars of his claim in respect of the property or any part thereof to which the notice relates. (2) At the expiration of the time fixed by the notice the trustees or personal representatives may convey or distribute the property or any part thereof to which the notice relates, to or among the persons entitled thereto, having regard only to the claims, whether formal or not, of which the trustees or personal representatives then had notice and shall not, as respects the property so conveyed or distributed, be liable to any person of whose claim the trustees or personal representatives have not had notice at the time of con￾veyance or distribution; but nothing in this section— (a) prejudices the right of any person to follow the property, or any property repre￾senting the same, into the hands of any person, other than a purchaser, who may have received it; or (b) frees the trustees or personal representatives from any obligation to make searches or obtain official certificates of search similar to those which an intend￾ing purchaser would be advised to make or obtain. (3) This section applies notwithstanding anything to the contrary in the will or other instru￾ment, if any, creating the trust. 28 Protection in regard to notice

A trustee or personal representative acting for the purposes of more than one trust or estate shall not, in the absence of fraud, be affected by notice of any instrument, matter, fact or thing in relation to any particular trust or estate if he has obtained notice thereof merely by reason of his acting or having acted for the purposes of another trust or estate. Maintenance Advancement and Protective Trusts 31 Power to apply income for maintenance and to accumulate surplus income dur￾ing a minority (1) Where any property is held by trustees in trust for any person for any interest whatso￾ever, whether vested or contingent, then, subject to any prior interests or charges af￾fecting that property— (i) during the infancy of any such person, if his interest so long continues, the trus￾tees may, at their sole discretion, pay to his parent or guardian, if any, or other￾wise apply for or towards his maintenance, education, or benefit, the whole or such part, if any, of the income of that property as may, in all the circumstances, be reasonablethe trustees may think fit, whether or not there is— (a) any other fund applicable to the same purpose; or (b) any person bound by law to provide for his maintenance or education; and (ii) if such person on attaining the age of eighteen years has not a vested interest in such income, the trustees shall thenceforth pay the income of that property and of any accretion thereto under subsection (2) of this section to him, until he either attains a vested interest therein or dies, or until failure of his interest:
Provided that, in deciding whether the whole or any part of the income of the property is during a minority to be paid or applied for the purposes aforesaid, the trustees shall have regard to the age of the infant and his requirements and generally to the circumstances of the case, and in particular to what other in￾come, if any, is applicable for the same purposes; and where trustees have notice that the income of more than one fund is applicable for those purposes, then, so far as practicable, unless the entire income of the funds is paid or ap￾plied as aforesaid or the court otherwise directs, a proportionate part only of the income of each fund shall be so paid or applied. (2) During the infancy of any such person, if his interest so long continues, the trustees shall accumulate all the residue of that income by investing it, and any profits from so investing it from time to time in authorised investments, and shall hold those accumu￾lations as follows:— (i) If any such person—

(a) attains the age of eighteen years, or marries under that age, and his interest in such income during his infancy, or until his marriage, is a vested interest; or (b) on attaining the age of eighteen years or on marriage under that age becomes entitled to the property from which such income arose in fee simple, absolute or determinable, or absolutely; the trustees shall hold the accumulations in trust for such person absolutely, and so that the receipt of such person after marriage, and though still an infant, shall be a good discharge; and (ii) In any other case the trustees shall, notwithstanding that such person had a vested interest in such income, hold the accumulations as an accretion to the capital of the property from which such accumulations arose, and as one fund with such capital for all purposes; but the trustees may, at any time during the infancy of such person if his interest so long continues, apply those accumulations, or any part thereof, as if they were income arising in the then current year. (3) This section applies in the case of a contingent interest only if the limitation or trust carries the intermediate income of the property, but it applies to a future or contingent legacy by the parent of, or a person standing in loco parentis to, the legatee, if and for such period as, under the general law, the legacy carries interest for the maintenance of the legatee, and in any such case as last aforesaid the rate of interest shall (if the income available is sufficient, and subject to any rules of court to the contrary) be five per cent per annum. (4) This section applies to a vested annuity in like manner as if the annuity were the income of property held by trustees in trust to pay the income thereof to the annuitant for the same period for which the annuity is payable, save that in any case accumulations made during the infancy of the annuitant shall be held in trust for the annuitant or his personal representatives absolutely. 32 Power of advancement (1) Trustees may at any time or times pay or apply any capital money subject to a trust, or transfer or apply any other property forming part of the capital of the trust property, for the advancement or benefit, in such manner as they may, in their absolute discretion, think fit, of any person entitled to the capital of the trust property or of any share thereof, whether absolutely or contingently on his attaining any specified age or on the occur￾rence of any other event, or subject to a gift over on his death under any specified age or on the occurrence of any other event, and whether in possession or in remainder or reversion, and such payment, transfer or application may be made notwithstanding that the interest of such person is liable to be defeated by the exercise of a power of ap￾pointment or revocation, or to be diminished by the increase of the class to which he belongs, Provided that—

(a) the property (including any money) so paid, transferred or applied for the ad￾vancement or benefit of any person shallmust not exceed, altogether in amount one-half of, represent more than the presumptive or vested share or interest of that person in the trust property; and (b) if that person is or becomes absolutely and indefeasibly entitled to a share in the trust property, the money or other property so paid, transferred or applied shall be brought into account as part of such share; and (c) no such payment, transfer or application shall be made so as to prejudice any person entitled to any prior life or other interest, whether vested or contingent, in the money paidor other property paid, transferred or applied unless such per￾son is in existence and of full age and consents in writing to such payment, transfer or application. (1A) In exercise of the foregoing power trustees may pay, transfer or apply money or other property on the basis (express or implied) that it shall be treated as a proportionate part of the capital out of which it was paid, transferred or applied, for the purpose of bringing it into account in accordance with proviso (b) to subsection (1) of this section. 33 Protective trusts (1) Where any income, including an annuity or other periodical income payment, is directed to be held on protective trusts for the benefit of any person (in this section called “the principal beneficiary”) for the period of his life or for any less period, then, during that period (in this section called the “trust period”) the said income shall, without prejudice to any prior interest, be held on the following trusts, namely— (i) Upon trust for the principal beneficiary during the trust period or until he, whether before or after the termination of any prior interest, does or attempts to do or suffers any act or thing, or until any event happens, other than an advance un￾der any statutory or express power, whereby, if the said income were payable during the trust period to the principal beneficiary absolutely during that period, he would be deprived of the right to receive the same or any part thereof, in any of which cases, as well as on the termination of the trust period, whichever first happens, this trust of the said income shall fail or determine; (ii) If the trust aforesaid fails or determines during the subsistence of the trust period, then, during the residue of that period, the said income shall be held upon trust for the application thereof for the maintenance or support, or other￾wise for the benefit, of all or any one or more exclusively of the other or others of the following persons (that is to say)— (a) the principal beneficiary and his or her spouse, if any, and his or her children or more remote issue, if any; or (b) if there is no spouse or issue of the principal beneficiary in existence, the principal beneficiary and the persons who would, if he were actually

dead, be entitled to the trust property or the income thereof or to the annuity fund, if any, or arrears of the annuity, as the case may be; as the trustees in their absolute discretion, without being liable to account for the exercise of such discretion, think fit. (3) Nothing in this section operates to validate any trust which would, if contained in the instrument creating the trust, be liable to be set aside.
Part III
Appointment and Discharge of Trustees
36 Power of appointing new or additional trustees (1) Where a trustee, either original or substituted, and whether appointed by a court or otherwise, is dead, or remains out of the United Kingdom for more than twelve months, or desires to be discharged from all or any of the trusts or powers reposed in or con￾ferred on him, or refuses or is unfit to act therein, or is incapable of acting therein, or is an infant, then— (a) the person or persons nominated for the purpose of appointing new trustees by the instrument, if any, creating the trust; or (b) if there is no such person, or no such person able and willing to act, then the surviving or continuing trustees or trustee for the time being, or the personal representatives of the last surviving or continuing trustee; may, by writing, appoint one or more other persons (whether or not being the persons exercising the power) to be a trustee or trustees in the place of the trustee so deceased remaining out of the United Kingdom, desiring to be discharged, refusing, or being unfit or being incapable, or being an infant, as aforesaid. (2) Where a trustee has been removed under a power contained in the instrument creating the trust, a new trustee or new trustees may be appointed in the place of the trustee who is removed, as if he were dead, or, in the case of a corporation, as if the corporation desired to be discharged from the trust, and the provisions of this section shall apply accordingly. (3) Where a corporation being a trustee is or has been dissolved, either before or after the commencement of this Act, then, for the purposes of this section, the corporation shall be deemed to be and to have been from the date of the dissolution incapable of acting in the trusts or powers reposed in or conferred on the corporation. (6) Where, in the case of any trust, there are not more than three trustees— (a) the person or persons nominated for the purpose of appointing new trustees by the instrument, if any, creating the trust; or

(b) if there is no such person, or no such person able and willing to act, then the trustee or trustees for the time being; may, by writing appoint another person or other persons to be an additional trustee or additional trustees, but it shall not be obligatory to appoint any additional trustee, unless the instrument, if any, creating the trust, or any statutory enactment provides to the contrary. (7) Every new trustee appointed under this section as well before as after all the trust prop￾erty becomes by law, or by assurance, or otherwise, vested in him, shall have the same powers, authorities, and discretions, and may in all respects act as if he had been orig￾inally appointed a trustee by the instrument, if any, creating the trust. (8) The provisions of this section relating to a trustee who is dead include the case of a person nominated trustee in a will but dying before the testator, and those relative to a continuing trustee include a refusing or retiring trustee, if willing to act in the execution of the provisions of this section. (9) Where a trustee lacks capacity to exercise his functions as trustee and is also entitled in possession to some beneficial interest in the trust property, no appointment of a new trustee in his place shall be made by virtue of paragraph (b) of subsection (1) of this
section unless leave to make the appointment has been given by the Court.
37 Supplemental provisions as to appointment of trustees (1) On the appointment of a trustee for the whole or any part of trust property— (a) the number of trustees may be increased; and (b) a separate set of trustees may be appointed for any part of the trust property held on trusts distinct from those relating to any other part or parts of the trust property, notwithstanding that no new trustees or trustee are or is to be ap￾pointed for other parts of the trust property, and any existing trustee may be appointed or remain one of such separate set of trustees, or, if only one trustee was originally appointed, then one separate trustee may be so appointed; and (c) it shall not be obligatory to appoint more than one new trustee where only one trustee was originally appointed, or to fill up the original number of trustees where more than two trustees were originally appointed; and (d) any assurance or thing requisite for vesting the trust property, or any part thereof, in a sole trustee, or jointly in the persons who are the trustees, shall be executed or done. 38 Evidence as to a vacancy in a trust (1) A statement, contained in any instrument by which a new trustee is appointed for any purpose connected with land, to the effect that a trustee has remained out of the United Kingdom for more than twelve months or refuses or is unfit to act, or is incapable of

acting, or that he is not entitled to a beneficial interest in the trust property in posses￾sion, shall, in favour of a purchaser of a legal estate, be conclusive evidence of the matter stated. (2) In favour of such purchaser any appointment of a new trustee depending on that state￾ment, and any vesting declaration, express or implied, consequent on the appointment, shall be valid. 39 Retirement of trustee without a new appointment (1) Where a trustee is desirous of being discharged from the trust, and after his discharge there will be either a trust corporation or at least one person to act as trustee to perform the trust, then, if such trustee as aforesaid by deed declares that he is desirous of being discharged from the trust, and if his co-trustees and such other person, if any, as is empowered to appoint trustees, by deed consent to the discharge of the trustee, and to the vesting in the co-trustees alone of the trust property, the trustee desirous of being discharged shall be deemed to have retired from the trust, and shall, by the deed, be discharged therefrom under this Act, without any new trustee being appointed in his place. (2) Any assurance or thing requisite for vesting the trust property in the continuing trustees alone shall be executed or done. 40 Vesting of trust property in new or continuing trustees (1) Where by a deed a new trustee is appointed to perform any trust, then— (a) if the deed contains a declaration by the appointor to the effect that any estate or interest in any land subject to the trust, or in any chattel so subject, or right to recover or receive any debt or other thing in action so subject, shall vest in the persons who by virtue of the deed become or are the trustees for performing the trust, the deed shall operate, without any conveyance or assignment, to vest in those persons as joint tenants and for the purposes of the trust the estate interest or right to which the declaration relates; and (b) if the deed does not contain such a declaration, the deed shall, subject to any express provision to the contrary therein contained, operate as if it had con￾tained such a declaration by the appointor extending to all the estates interests and rights with respect to which a declaration could have been made. (2) Where by a deed a retiring trustee is discharged under section 39 of this Act or section 19 of the Trusts of Land and Appointment of Trustees Act 1996 without a new trustee being appointed, then— (a) if the deed contains such a declaration as aforesaid by the retiring and contin￾uing trustees, and by the other person, if any, empowered to appoint trustees, the deed shall, without any conveyance or assignment, operate to vest in the continuing trustees alone, as joint tenants, and for the purposes of the trust, the estate, interest, or right to which the declaration relates; and

(b) if the deed does not contain such a declaration, the deed shall, subject to any express provision to the contrary therein contained, operate as if it had con￾tained such a declaration by such persons as aforesaid extending to all the estates, interests and rights with respect to which a declaration could have been made. (3) An express vesting declaration shall, notwithstanding that the estate, interest or right to be vested is not expressly referred to, and provided that the other statutory require￾ments were or are complied with, operate and be deemed always to have operated (but without prejudice to any express provision to the contrary contained in the deed of appointment or discharge) to vest in the persons respectively referred to in subsections (1) and (2) of this section, as the case may require, such estates, interests and rights as are capable of being and ought to be vested in those persons. (4) This section does not extend— (a) to land conveyed by way of mortgage for securing money subject to the trust, except land conveyed on trust for securing debentures or debenture stock; (b) to land held under a lease which contains any covenant, condition or agreement against assignment or disposing of the land without licence or consent, unless, prior to the execution of the deed containing expressly or impliedly the vesting declaration, the requisite licence or consent has been obtained, or unless, by virtue of any statute or rule of law, the vesting declaration, express or implied, would not operate as a breach of covenant or give rise to a forfeiture; (c) to any share, stock, annuity or property which is only transferable in books kept by a company or other body, or in manner directed by or under any enactment. In this subsection “lease” includes an underlease and an agreement for a lease or un￾derlease. (5) For purposes of registration of the deed in any registry, the person or persons making the declaration expressly or impliedly, shall be deemed the conveying party or parties, and the conveyance shall be deemed to be made by him or them under a power con￾ferred by this Act.
Part IV
Powers of the Court
Appointment of new Trustees
41 Power of court to appoint new trustees
(1) The court may, whenever it is expedient to appoint a new trustee or new trustees, and it is found inexpedient difficult or impracticable so to do without the assistance of the court, make an order appointing a new trustee or new trustees either in substitution for or in addition to any existing trustee or trustees, or although there is no existing trustee.

In particular and without prejudice to the generality of the foregoing provision, the court may make an order appointing a new trustee in substitution for a trustee who lacks capacity to exercise his functions as trustee, or is a bankrupt, or is a corporation which is in liquidation or has been dissolved. (3) An order under this section, and any consequential vesting order or conveyance, shall not operate further or otherwise as a discharge to any former or continuing trustee than an appointment of new trustees under any power for that purpose contained in any instrument would have operated. 42 Power to authorise remuneration Where the court appoints a corporation to be a trustee either solely or jointly with an￾other person, the court may authorise the corporation to charge such remuneration for its services as trustee as the court may think fit. 43 Powers of new trustee appointed by the Court Every trustee appointed by a court of competent jurisdiction shall, as well before as after the trust property becomes by law, or by assurance, or otherwise, vested in him, have the same powers, authorities, and discretions, and may in all respects act as if he had been originally appointed a trustee by the instrument, if any, creating the trust. Vesting Orders 44 Vesting orders of land In any of the following cases, namely:
(i) Where the court appoints or has appointed a trustee, or where a trustee has been appointed out of court under any statutory or express power; (ii) Where a trustee entitled to or possessed of any land or interest therein, whether by way of mortgage or otherwise, or entitled to a contingent right therein, either solely or jointly with any other person— (a) is under disability; or (b) is out of the jurisdiction of the Court; or (c) cannot be found, or, being a corporation, has been dissolved; (iii) Where it is uncertain who was the survivor of two or more trustees jointly enti￾tled to or possessed of any interest in land; (iv) Where it is uncertain whether the last trustee known to have been entitled to or possessed of any interest in land is living or dead; (v) Where there is no personal representative of a deceased trustee who was en￾titled to or possessed of any interest in land, or where it is uncertain who is the

personal representative of a deceased trustee who was entitled to or pos￾sessed of any interest in land; (vi) Where a trustee jointly or solely entitled to or possessed of any interest in land, or entitled to a contingent right therein, has been required, by or on behalf of a person entitled to require a conveyance of the land or interest or a release of the right, to convey the land or interest or to release the right, and has wilfully refused or neglected to convey the land or interest or release the right for twenty-eight days after the date of the requirement; (vii) Where land or any interest therein is vested in a trustee whether by way of mortgage or otherwise, and it appears to the court to be expedient; the court may make an order (in this Act called a vesting order) vesting the land or interest therein in any such person in any such manner and for any such estate or interest as the court may direct, or releasing or disposing of the contingent right to such person as the court may direct:
Provided that—
(a) Where the order is consequential on the appointment of a trustee the land or interest therein shall be vested for such estate as the court may direct in the persons who on the appointment are the trustees; and (b) Where the order relates to a trustee entitled or formerly entitled jointly with another person, and such trustee is under disability or out of the jurisdiction of the Court or cannot be found, or being a corporation has been dissolved, the land interest or right shall be vested in such other person who remains entitled, either alone or with any other person the court may appoint. 45 Orders as to contingent rights of unborn persons Where any interest in land is subject to a contingent right in an unborn person or class of unborn persons who, on coming into existence would, in respect, thereof, become entitled to or possessed of that interest on any trust, the court may make an order releasing the land or interest therein from the contingent right, or may make an order vesting in any person the estate or interest to or of which the unborn person or class of unborn persons would, on coming into existence, be entitled or possessed in the land. 46 Vesting order in place of conveyance by infant mortgagee Where any person entitled to or possessed of any interest in land, or entitled to a con￾tingent right in land, by way of security for money, is an infant, the court may make an order vesting or releasing or disposing of the interest in the land or the right in like manner as in the case of a trustee under disability. 47 Vesting order consequential on order for sale or mortgage of land Where any court gives a judgment or makes an order directing the sale or mortgage of any land, every person who is entitled to or possessed of any interest in the land, or

entitled to a contingent right therein, and is a party to the action or proceeding in which the judgment or order is given or made or is otherwise bound by the judgment or order, shall be deemed to be so entitled or possessed, as the case may be, as a trustee for the purpose of this Act, and the court may, if it thinks expedient, make an order vesting the land or any part thereof for such estate or interest as that court thinks fit in the purchaser or mortgagee or in any other person. 48 Vesting order consequential on judgement for specific performance, etc Where a judgment is given for the specific performance of a contract concerning any interest in land, or for sale or exchange of any interest in land, or generally where any judgment is given for the conveyance of any interest in land either in cases arising out of the doctrine of election or otherwise, the court may declare— (a) that any of the parties to the action are trustees of any interest in the land or any
part thereof within the meaning of this Act; or
(b) that the interests of unborn persons who might claim under any party to the action, or under the will or voluntary settlement of any deceased person who was during his lifetime a party to the contract or transaction concerning which the judgment is given, are the interests of persons who, on coming into exist￾ence, would be trustees within the meaning of this Act; and thereupon the court may make a vesting order relating to the rights of those per￾sons, born and unborn, as if they had been trustees. 49 Effect of vesting order A vesting order under any of the foregoing provisions shall in the case of a vesting order consequential on the appointment of a trustee, have the same effect— (a) as if the persons who before the appointment were the trustees, if any, had duly executed all proper conveyances of the land for such estate or interest as the court directs; or (b) if there is no such person, or no such person of full capacity, as if such person had existed and been of full capacity and had duly executed all proper convey￾ances of the land for such estate or interest as the court directs; and shall in every other case have the same effect as if the trustee or other person or description or class of persons to whose rights or supposed rights the said provisions respectively relate had been an ascertained and existing person of full capacity, and had executed a conveyance or release to the effect intended by the order. 50 Power to appoint person to convey In all cases where a vesting order can be made under any of the foregoing provisions, the court may, if it is more convenient, appoint a person to convey the land or any interest therein or release the contingent right, and a conveyance or release by that

person in conformity with the order shall have the same effect as an order under the appropriate provision. 51 Vesting orders as to stock and things in action (1) In any of the following cases, namely— (i) Where the court appoints or has appointed a trustee, or where a trustee has been appointed out of court under any statutory or express power; (ii) Where a trustee entitled, whether by way of mortgage or otherwise, alone or jointly with another person to stock or to a thing in action— (a) is under disability; or (b) is out of the jurisdiction of the Court; or (c) cannot be found, or, being a corporation, has been dissolved; or (d) neglects or refuses to transfer stock or receive the dividends or income thereof, or to sue for or recover a thing in action, according to the di￾rection of the person absolutely entitled thereto for twenty-eight days next after a request in writing has been made to him by the person so entitled; or (e) neglects or refuses to transfer stock or receive the dividends or income thereof, or to sue for or recover a thing in action for twenty-eight days next after an order of the court for that purpose has been served on him; (iii) Where it is uncertain whether a trustee entitled alone or jointly with another per￾son to stock or to a thing in action is alive or dead; (iv) Where stock is standing in the name of a deceased person whose personal representative is under disability; (v) Where stock or a thing in action is vested in a trustee whether by way of mort￾gage or otherwise and it appears to the court to be expedient; the court may make an order vesting the right to transfer or call for a transfer of stock, or to receive the dividends or income thereof, or to sue for or recover the thing in action, in any such person as the court may appoint:
Provided that—
(a) Where the order is consequential on the appointment of a trustee, the right shall be vested in the persons who, on the appointment, are the trustees; and

(b) Where the person whose right is dealt with by the order was entitled jointly with another person, the right shall be vested in that last- men￾tioned person either alone or jointly with any other person whom the court may appoint. (2) In all cases where a vesting order can be made under this section, the court may, if it is more convenient, appoint some proper person to make or join in making the transfer, Provided that the person appointed to make or join in making a transfer of stock shall be some proper officer of the bank, or the company or society whose stock is to be transferred. (3) The person in whom the right to transfer or call for the transfer of any stock is vested by an order of the court under this Act, may transfer the stock to himself or any other person, according to the order, and the Registrar and any company shall obey every order under this section according to its tenor. (4) After notice in writing of an order under this section it shall not be lawful for the Regis￾trar or any company to transfer any stock to which the order relates or to pay any dividends thereon except in accordance with the order. (5) The court may make declarations and give directions concerning the manner in which the right to transfer any stock or thing in action vested under the provisions of this Act is to be exercised. 52 Vesting orders of charity property The powers conferred by this Act as to vesting orders may be exercised for vesting any interest in land, stock, or thing in action in any trustee of a charity or society over which the court would have jurisdiction upon action duly instituted, whether the appointment of the trustee was made by instrument under a power or by the court under its general or statutory jurisdiction. 53 Vesting orders in relation to infants' beneficial interests Where an infant is beneficially entitled to any property the court may, with a view to the application of the capital or income thereof for the maintenance, education, or benefit of the infant, make an order— (a) appointing a person to convey such property; or (b) in the case of stock, or a thing in action, vesting in any person the right to trans￾fer or call for a transfer of such stock, or to receive the dividends or income thereof, or to sue for and recover such thing in action, upon such terms as the court may think fit. 55 Orders made upon certain allegations to be conclusive evidence Where a vesting order is made as to any land under this Act founded on an allegation of any of the following matters namely—

(a) that a trustee or mortgagee lacks capacity in relation to the matter in question; or (b) that a trustee or mortgagee or the personal representative of or other person deriving title under a trustee or mortgagee is out of the jurisdiction of the Court or cannot be found, or being a corporation has been dissolved; or (c) that it is uncertain which of two or more trustees, or which of two or more per￾sons interested in a mortgage, was the survivor; or (d) that it is uncertain whether the last trustee or the personal representative of or other person deriving title under a trustee or mortgagee, or the last surviving person interested in a mortgage is living or dead; or (e) that any trustee or mortgagee has died intestate without leaving a person ben￾eficially interested under the intestacy or has died and it is not known who is his personal representative or the person interested; the fact that the order has been so made shall be conclusive evidence of the matter so alleged in any court upon any question as to the validity of the order; but this section does not prevent the court from directing a reconveyance or surrender or the payment of costs occasioned by any such order if improperly obtained. Jurisdiction to make other Orders 57 Power of court to authorise dealings with trust property (1) Where in the management or administration of any property vested in trustees, any sale, lease, mortgage, surrender, release, or other disposition, or any purchase, invest￾ment, acquisition, expenditure, or other transaction, is in the opinion of the court expe￾dient, but the same cannot be effected by reason of the absence of any power for that purpose vested in the trustees by the trust instrument, if any, or by law, the court may by order confer upon the trustees, either generally or in any particular instance, the necessary power for the purpose, on such terms, and subject to such provisions and conditions, if any, as the court may think fit and may direct in what manner any money authorised to be expended, and the costs of any transaction, are to be paid or borne as between capital and income. (2) The court may, from time to time, rescind or vary any order made under this section, or may make any new or further order. (3) An application to the court under this section may be made by the trustees, or by any of them, or by any person beneficially interested under the trust. 58 Persons entitled to apply for orders (1) An order under this Act for the appointment of a new trustee or concerning any interest in land, stock, or thing in action subject to a trust, may be made on the application of

any person beneficially interested in the land, stock, or thing in action, whether under disability or not, or on the application of any person duly appointed trustee thereof. (2) An order under this Act concerning any interest in land, stock, or thing in action subject to a mortgage may be made on the application of any person beneficially interested in the equity of redemption, whether under disability or not, or of any person interested in the money secured by the mortgage. 59 Power to give judgment in absence of a trustee Where in any action the court is satisfied that diligent search has been made for any person who, in the character of trustee, is made a defendant in any action, to serve him with a process of the court, and that he cannot be found, the court may hear and de￾termine the action and give judgment therein against that person in his character of a trustee as if he had been duly served, or had entered an appearance in the action, and had also appeared by his lawyer at the hearing, but without prejudice to any interest he may have in the matters in question in the action in any other character. 60 Power to charge costs on trust estate The court may order the costs and expenses of and incident to any application for an order appointing a new trustee, or for a vesting order, or of and incident to any such order, or any conveyance or transfer in pursuance thereof, to be raised and paid out of the property in respect whereof the same is made, or out of the income thereof, or to be borne and paid in such manner and by such persons as to the court may seem just. 61 Power to relieve trustee from personal liability If it appears to the court that a trustee, whether appointed by the court or otherwise, is or may be personally liable for any breach of trust, but has acted honestly and reason￾ably, and ought fairly to be excused for the breach of trust and for omitting to obtain the directions of the court in the matter in which he committed such breach, then the court may relieve him either wholly or partly from personal liability for the same. 62 Power to make beneficiary indemnify for breach of trust (1) Where a trustee commits a breach of trust at the instigation or request or with the con￾sent in writing of a beneficiary, the court may, if it thinks fit, make such order as to the court seems just, for impounding all or any part of the interest of the beneficiary in the trust estate by way of indemnity to the trustee or persons claiming through him. Payment into Court 63 Payment into court by trustees (1) Trustees, or the majority of trustees, having in their hands or under their control money or securities belonging to a trust, may pay the same into court. (2) The receipt or certificate of the proper officer shall be a sufficient discharge to trustees for the money or securities so paid into court.

(3) Where money or securities are vested in any persons as trustees, and the majority are desirous of paying the same into court, but the concurrence of the other or others can￾not be obtained, the court may order the payment into court to be made by the majority without the concurrence of the other or others. (4) Where any such money or securities are deposited with any banker, broker, or other depository, the court may order payment or delivery of the money or securities to the majority of the trustees for the purpose of payment into court. (5) Every transfer payment and delivery made in pursuance of any such order shall be valid and take effect as if the same had been made on the authority or by the act of all the persons entitled to the money and securities so transferred, paid, or delivered.
Part V
General Provisions
66 Indemnity to banks, etc
This Act, and every order purporting to be made under this Act, shall be a complete indemnity to the Registrar, and to all persons for any acts done pursuant thereto, and it shall not be necessary for the Registrar or for any person to inquire concerning the propriety of the order, or whether the court by which the order was made had jurisdiction to make it. 68 Definitions (1) In this Act, unless the context otherwise requires, the following expressions have the meanings hereby assigned to them respectively, that is to say:— (1) “Authorised investments” mean investments authorised by the instrument, if any, creating the trust for the investment of money subject to the trust, or by law; (2) “Contingent right” as applied to land includes a contingent or executory interest, a possibility coupled with an interest, whether the object of the gift or limitation of the interest, or possibility is or is not ascertained, also a right of entry, whether immediate or future, and whether vested or contingent; (3) “Convey” and “conveyance” as applied to any person include the execution by that person of every necessary or suitable assurance (including an assent) for conveying, assigning, appointing, surrendering, or otherwise transferring or dis￾posing of land whereof he is seised or possessed, or wherein he is entitled to a contingent right, either for his whole estate or for any less estate, together with the performance of all formalities required by law for the validity of the convey￾ance; “sale” includes an exchange; (5) “Instrument” includes an enactment;

(7) “Mortgage” and “mortgagee” include a charge or chargee, and relate to every estate and interest regarded in equity as merely a security for money, and every person deriving title under the original mortgagee; (10) “Possession” includes receipt of rents and profits or the right to receive the same, if any; “income” includes rents and profits; and “possessed” applies to receipt of income of and to any vested estate less than a life interest in posses￾sion or in expectancy in any land; (11) “Property” includes real and personal property, and any estate share and inter￾est in any property, real or personal, and any debt, and any thing in action, and any other right or interest, whether in possession or not; (12) “Rights” include estates and interests; (13) “Securities” include stocks, funds, and shares; and “securities payable to bearer” include securities transferable by delivery or by delivery and endorsement; (14) “Stock” includes fully paid up shares, and so far as relates to vesting orders made by the court under this Act, includes any fund, annuity, or security trans￾ferable in books kept by any company or society, or by instrument of transfer either alone or accompanied by other formalities, and any share or interest therein; (16) “Transfer” in relation to stock or securities, includes the performance and exe￾cution of every deed, power of attorney, act, and thing on the part of the trans￾feror to effect and complete the title in the transferee; (17) “Trust” does not include the duties incident to an estate conveyed by way of mortgage, but with this exception the expressions “trust” and “trustee” extend to implied and constructive trusts, and to cases where the trustee has a beneficial interest in the trust property, and to the duties incident to the office of a personal representative, and “trustee” where the context admits, includes a personal rep￾resentative, and “new trustee” includes an additional trustee; (18) “Trust corporation” means a corporation appointed by the court in any particular case to be a trustee; (19) “Trust for sale” in relation to land means an immediate trust for sale, whether or not exercisable at the request or with the consent of any person. 69 Application of Act (2) The powers conferred by this Act on trustees are in addition to the powers conferred by the instrument, if any, creating the trust, but those powers, unless otherwise stated, apply if and so far only as a contrary intention is not expressed in the instrument, if any, creating the trust, and have effect subject to the terms of that instrument. 71 Short title, commencement, extent

(1) This Act may be cited as the Trustee Act, 1925.

---

Bills of Exchange Act 1882
Chapter 61
Part I
Preliminary
1 Short title
This Act may be cited as the Bills of Exchange Act 1882.
2 Interpretation of terms
In this Act, unless the context otherwise requires— “Acceptance” means an acceptance completed by delivery or notification. “Action” includes counter claim and set off. “Banker” includes a body of persons whether incorporated or not who carry on the business of banking. “Bankrupt” includes any person whose estate is vested in a trustee or assignee under the law for the time being in force relating to bankruptcy. “Bearer” means the person in possession of a bill or note which is payable to bearer. “Bill” means bill of exchange, and “note” means promissory note. “Delivery” means transfer of possession, actual or constructive, from one person to another. “Holder” means the payee or indorsee of a bill or note who is in possession of it, or the bearer thereof. “Indorsement” means an indorsement completed by delivery. “Issue” means the first delivery of a bill or note, complete in form to a person who takes it as a holder. “Person” includes a body of persons whether incorporated or not. “Postal operator” means a person who provides (a) the service of conveying postal packets from one place to another by post, or (b) any of the incidental services of receiving, collecting, sorting and delivering postal packets.

“Value” means valuable consideration.
“Written” includes printed, and “writing” includes print.
Part II
Bills of Exchange
Form and Interpretation
3 Bill of exchange defined
(1) A bill of exchange is an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is ad￾dressed to pay on demand or at a fixed or determinable future time a sum certain in money to or to the order of a specified person, or to bearer. (2) An instrument which does not comply with these conditions, or which orders any act to be done in addition to the payment of money, is not a bill of exchange. (3) An order to pay out of a particular fund is not unconditional within the meaning of this section; but an unqualified order to pay, coupled with (a) an indication of a particular fund out of which the drawee is to re-imburse himself or a particular ac￾count to be debited with the amount, or (b) a statement of the transaction which gives rise to the bill, is unconditional. (4) A bill is not invalid by reason— (a) That it is not dated; (b) That it does not specify the value given, or that any value has been given therefor; (c) That it does not specify the place where it is drawn or the place where it is payable. 4 Inland and foreign bills (1) An inland bill is a bill which is or on the face of it purports to be (a) both drawn and payable within the Abu Dhabi Global Market, or (b) drawn within the Abu Dhabi Global Market upon some person resident therein. Any other bill is a foreign bill. (2) Unless the contrary appear on the face of the bill the holder may treat it as an inland bill.

5 Effect where different parties to bill are the same person (1) A bill may be drawn payable to, or to the order of, the drawer; or it may be drawn payable to, or to the order of, the drawee. (2) Where in a bill drawer and drawee are the same person, or where the drawee is a fictitious person or a person not having capacity to contract the holder may treat the instrument, at his option, either as a bill of exchange or as a promissory note. 6 Address to drawee (1) The drawee must be named or otherwise indicated in a bill with reasonable cer￾tainty. (2) A bill may be addressed to two or more drawees whether they are partners or not, but an order addressed to two drawees in the alternative or to two or more drawees in succession is not a bill of exchange. 7 Certainty required as to payee (1) Where a bill is not payable to bearer, the payee must be named or otherwise indi￾cated therein with reasonable certainty. (2) A bill may be made payable to two or more payees jointly, or it may be made payable in the alternative to one of two, or one or some of several payees. A bill may also be made payable to the holder of an office for the time being. (3) Where the payee is a fictitious or non-existing person the bill may be treated as payable to bearer. 8 What bills are negotiable (1) When a bill contains words prohibiting transfer, or indicating an intention that it should not be transferable, it is valid as between the parties thereto, but is not negotiable. (2) A negotiable bill may be payable either to order or to bearer. (3) A bill is payable to bearer which is expressed to be so payable, or on which the only or last indorsement is an indorsement in blank. (4) A bill is payable to order which is expressed to be so payable, or which is ex￾pressed to be payable to a particular person, and does not contain words prohib￾iting transfer or indicating an intention that it should not be transferable.

(5) Where a bill, either originally or by indorsement, is expressed to be payable to the order of a specified person, and not to him or his order, it is nevertheless payable to him or his order at his option. 9 Sum payable (1) The sum payable by a bill is a sum certain within the meaning of this Act, although it was required to be paid— (a) With interest; (b) By stated instalments; (c) By stated instalments, with a provision that upon default in payment of any instalment the whole shall become due; (d) According to an indicated rate of exchange or according to a rate of ex￾change to be ascertained as directed by the bill. (2) Where the sum payable is expressed in words and also in figures, and there is a discrepancy between the two, the sum denoted by the words is the amount paya￾ble. (3) Where a bill is expressed to be payable with interest, unless the instrument other￾wise provides, interest runs from the date of the bill, and if the bill is undated from the issue thereof. 10 Bill payable on demand (1) A bill is payable on demand— (a) Which is expressed to be payable on demand, or at sight, or on presenta￾tion; or (b) In which no time for payment was expressed. (2) Where a bill is accepted or indorsed when it is overdue, it shall, as regards the acceptor who so accepts, or any indorser who so indorses it, be deemed a bill payable on demand. 11 Bill payable at a future time A bill is payable at a determinable future time within the meaning of this Act which is expressed to be payable—

(1) At a fixed period after date or sight;
(2) On or at a fixed period after the occurrence of a specified event which is certain to happen, though the time of happening may be uncertain. An instrument expressed to be payable on a contingency is not a bill, and the hap￾pening of the event does not cure the defect. 12 Omission of date in bill payable after date Where a bill expressed to be payable at a fixed period after date is issued undated, or where the acceptance of a bill payable at a fixed period after sight is undated, any holder may insert therein the true date of issue or acceptance, and the bill shall be payable accordingly. Provided that (1) where the holder in good faith and by mistake inserts a wrong date, and (2) in every case where a wrong date is inserted, if the bill subsequently comes into the hands of a holder in due course the bill shall not be avoided thereby, but shall operate and be payable as if the date so inserted had been the true date. 13 Ante-dating and post-dating (1) Where a bill or an acceptance or any indorsement on a bill is dated, the date shall, unless the contrary be proved, be deemed to be the true date of the drawing, ac￾ceptance, or indorsement, as the case may be. (2) A bill is not invalid by reason only that it is ante-dated or post-dated, or that it bears date on a Friday or Saturday. 14 Computation of time of payment Where a bill is not payable on demand the day on which it falls due is determined as follows— (1) The bill is due and payable in all cases on the last day of the time of pay￾ment as fixed by the bill or, if that is a non-business day, on the succeeding business day. (2) Where a bill is payable at a fixed period after date, after sight, or after the happening of a specified event, the time of payment is determined by ex￾cluding the day from which the time is to begin to run and by including the day of payment. (3) Where a bill is payable at a fixed period after sight, the time begins to run from the date of the acceptance if the bill be accepted, and from the date of noting or protest if the bill be noted or protested for non-acceptance, or for non-delivery.

(4) The term “month” in a bill means calendar month.
15 Case of need
The drawer of a bill and any indorser may insert therein the name of a person to whom the holder may resort in case of need, that is to say, in case the bill is dis￾honoured by non-acceptance or non-payment. Such person is called the referee in case of need. It is in the option of the holder to resort to the referee in case of need or not as he may think fit. 16 Optional stipulations by drawer or indorser The drawer of a bill, and any indorser, may insert therein an express stipulation— (1) Negativing or limiting his own liability to the holder; (2) Waiving as regards himself some or all of the holder’s duties. 17 Definition and requisites of acceptance (1) The acceptance of a bill is the signification by the drawee of his assent to the order of the drawer. (2) An acceptance is invalid unless it complies with the following conditions, namely— (a) It must be written on the bill and be signed by the drawee. The mere signa￾ture of the drawee without additional words is sufficient. (b) It must not express that the drawee will perform his promise by any other means than the payment of money. 18 Time for acceptance A bill may be accepted— (1) Before it has been signed by the drawer, or while otherwise incomplete; (2) When it is overdue, or after it has been dishonoured by a previous refusal to accept, or by non-payment; (3) When a bill payable after sight is dishonoured by non-acceptance, and the drawee subsequently accepts it, the holder, in the absence of any different agreement, is entitled to have the bill accepted as of the date of first pre￾sentment to the drawee for acceptance.

19 General and qualified acceptances
(1) An acceptance is either (a) general or (b) qualified.
(2) A general acceptance assents without qualification to the order of the drawer. A qualified acceptance in express terms varies the effect of the bill as drawn. In particular an acceptance is qualified which is— (a) conditional, that is to say, which makes payment by the acceptor depend￾ent on the fulfilment of a condition therein stated; (b) partial, that is to say, an acceptance to pay part only of the amount for which the bill is drawn; (c) local, that is to say, an acceptance to pay only at a particular specified place: An acceptance to pay at a particular place is a general acceptance, unless it expressly states that the bill is to be paid there only and not else￾where; (d) qualified as to time; (e) the acceptance of some one or more of the drawees, but not of all. 20 Inchoate instruments (1) Where a simple signature on a blank paper is delivered by the signer in order that it may be converted into a bill, it operates as a prima facie authority to fill it up as a complete bill for any amount, using the signature for that of the drawer, or the acceptor, or an indorser; and, in like manner, when a bill is wanting in any material particular, the person in possession of it has a prima facie authority to fill up the omission in any way he thinks fit. (2) In order that any such instrument when completed may be enforceable against any person who became a party thereto prior to its completion, it must be filled up within a reasonable time, and strictly in accordance with the authority given. Reasonable time for this purpose is a question of fact. Provided that if any such instrument after completion is negotiated to a holder in due course it shall be valid and effectual for all purposes in his hands, and he may enforce it as if it had been filled up within a reasonable time and strictly in accord￾ance with the authority given. 21 Delivery (1) Every contract on a bill, whether it be the drawer’s, the acceptor’s or an indorsers, is incomplete and revocable, until delivery of the instrument in order to give effect thereto.

Provided that where an acceptance is written on a bill, and the drawee gives notice to or according to the directions of the person entitled to the bill that he has ac￾cepted it, the acceptance then becomes complete and irrevocable. (2) As between immediate parties, and as regards a remote party other than a holder in due course, the delivery— (a) in order to be effectual must be made either by or under the authority of the party drawing, accepting, or indorsing, as the case may be; (b) may be shown to have been conditional or for a special purpose only, and not for the purpose of transferring the property in the bill. But if the bill be in the hands of a holder in due course a valid delivery of the bill by all parties prior to him so as to make them liable to him is conclusively presumed. (3) Where a bill is no longer in the possession of a party who has signed it as drawer, acceptor, or indorser, a valid and unconditional delivery by him is presumed until the contrary is proved. Capacity and Authority of Parties 22 Capacity of parties (1) Capacity to incur liability as a party to a bill is co-extensive with capacity to contract. Provided that nothing in this section shall enable a corporation to make itself liable as drawer, acceptor, or indorser of a bill unless it is competent to it so to do under the law for the time being in force relating to corporations. (2) Where a bill is drawn or indorsed by an infant, minor, or corporation having no capacity or power to incur liability on a bill, the drawing or indorsement entitles the holder to receive payment of the bill, and to enforce it against any other party thereto. 23 Signature essential to liability No person is liable as drawer, indorser, or acceptor of a bill who has not signed it as such— Provided that (1) Where a person signs a bill in a trade or assumed name, he is liable thereon as if he had signed it in his own name; (2) The signature of the name of a firm is equivalent to the signature by the person so signing of the names of all persons liable as partners in that firm. 24 Forged or unauthorised signature

Subject to the provisions of this Act, where a signature on a bill is forged or placed thereon without the authority of the person whose signature it purports to be, the forged or unauthorised signature is wholly inoperative, and no right to retain the bill or to give a discharge therefor or to enforce payment thereof against any party thereto can be acquired through or under that signature, unless the party against whom it is sought to retain or enforce payment of the bill is precluded from setting up the forgery or want of authority. Provided that nothing in this section shall affect the ratification of an unauthorised signature not amounting to a forgery. 25 Procuration signatures A signature by procuration operates as notice that the agent has but a limited au￾thority to sign, and the principal is only bound by such signature if the agent in so signing was acting within the actual limits of his authority. 26 Person signing as agent or in representative capacity (1) Where a person signs a bill as drawer, indorser, or acceptor, and adds words to his signature, indicating that he signs for or on behalf of a principal, or in a repre￾sentative character, he is not personally liable thereon; but the mere addition to his signature of words describing him as an agent, or as filling a representative char￾acter, does not exempt him from personal liability. (2) In determining whether a signature on a bill is that of the principal or that of the agent by whose hand it is written, the construction most favourable to the validity of the instrument shall be adopted. The Consideration for a Bill 27 Value and holder for value (1) Valuable consideration for a bill may be constituted by— (a) Any consideration sufficient to support a simple contract; (b) An antecedent debt or liability. Such a debt or liability is deemed valuable consideration whether the bill is payable on demand or at a future time. (2) Where value has at any time been given for a bill the holder is deemed to be a holder for value as regards the acceptor and all parties to the bill who became parties prior to such time. (3) Where the holder of a bill has a lien on it arising either from contract or by implica￾tion of law, he is deemed to be a holder to the extent of the sum for which he has a lien. 28 Accommodation bill or party

(1) An accommodation party to a bill is a person who has signed a bill as drawer, acceptor, or indorser, without receiving value therefor, and for the purpose of lend￾ing his name to some other person. (2) An accommodation party is liable on the bill to a holder for value; and it is immate￾rial whether, when such holder took the bill, he knew such party to be an accom￾modation party or not. 29 Holder in due course (1) A holder in due course is a holder who has taken a bill, complete and regular on the face of it, under the following conditions; namely— (a) That he became the holder of it before it was overdue, and without notice that it had been previously dishonoured, if such was the fact; (b) That he took the bill in good faith and for value, and that at the time the bill was negotiated to him he had no notice of any defect in the title of the person who negotiated it. (2) In particular the title of a person who negotiates a bill is defective within the mean￾ing of this Act when he obtained the bill, or the acceptance thereof, by fraud, du￾ress, or force and fear, or other unlawful means, or an illegal consideration, or when he negotiates it in breach of faith, or under such circumstances as amount to a fraud. (3) A holder (whether for value or not), who derives his title to a bill through a holder in due course, and who is not himself a party to any fraud or illegality affecting it, has all the rights of that holder in due course as regards the acceptor and all parties to the bill prior to that holder. 30 Presumption of value and good faith (1) Every party whose signature appears on a bill is prima facie deemed to have be￾come a party thereto for value. (2) Every holder of a bill is prima facie deemed to be a holder in due course; but if in an action on a bill it is admitted or proved that the acceptance, issue, or subsequent negotiation of the bill is affected with fraud, duress, or force and fear, or illegality, the burden of proof is shifted, unless and until the holder proves that, subsequent to the alleged fraud or illegality, value has in good faith been given for the bill. Negotiation of Bills 31 Negotiation of bill (1) A bill is negotiated when it is transferred from one person to another in such a manner as to constitute the transferee the holder of the bill. (2) A bill payable to bearer is negotiated by delivery.

(3) A bill payable to order is negotiated by the indorsement of the holder completed by delivery. (4) Where the holder of a bill payable to his order transfers it for value without indors￾ing it, the transfer gives the transferee such title as the transferor had in the bill, and the transferee in addition acquires the right to have the indorsement of the transferor. (5) Where any person is under obligation to indorse a bill in a representative capacity, he may indorse the bill in such terms as to negative personal liability. 32 Requisites of a valid indorsement An indorsement in order to operate as a negotiation must comply with the following conditions, namely,— (1) It must be written on the bill itself and be signed by the indorser. The simple sig￾nature of the indorser on the bill, without additional words, is sufficient. An indorsement written on an allonge, or on a “copy” of a bill issued or negotiated in a country where “copies” are recognised, is deemed to be written on the bill itself. (2) It must be an indorsement of the entire bill. A partial indorsement, that is to say, an indorsement which purports to transfer to the indorsee a part only of the amount payable, or which purports to transfer the bill to two or more indorsees severally, does not operate as a negotiation of the bill. (3) Where a bill is payable to the order of two or more payees or indorsees who are not partners all must indorse, unless the one indorsing has authority to indorse for the others. (4) Where, in a bill payable to order, the payee or indorsee is wrongly designated, or his name is mis-spelt, he may indorse the bill as therein described, adding, if he think fit, his proper signature. (5) Where there are two or more indorsements on a bill, each indorsement is deemed to have been made in the order in which it appears on the bill, until the contrary is proved. (6) An indorsement may be made in blank or special. It may also contain terms making it restrictive. 33 Conditional indorsement Where a bill purports to be indorsed conditionally the condition may be disregarded by the payer, and payment to the indorsee is valid whether the condition has been fulfilled or not. 34 Indorsement in blank and special indorsement

(1) An indorsement in blank specifies no indorsee, and a bill so indorsed becomes payable to bearer. (2) A special indorsement specifies the person to whom, or to whose order, the bill is to be payable. (3) The provisions of this Act relating to a payee apply with the necessary modifica￾tions to an indorsee under a special indorsement. (4) When a bill has been indorsed in blank, any holder may convert the blank indorse￾ment into a special indorsement by writing above the indorsers signature a direc￾tion to pay the bill to or to the order of himself or some other person. 35 Restrictive indorsement (1) An indorsement is restrictive which prohibits the further negotiation of the bill or which expresses that it is a mere authority to deal with the bill as thereby directed and not a transfer of the ownership thereof, as, for example, if a bill be indorsed “Pay D. only,” or “Pay D. for the account of X.,” or “Pay D. or order for collection.” (2) A restrictive indorsement gives the indorsee the right to receive payment of the bill and to sue any party thereto that his indorser could have sued, but gives him no power to transfer his rights as indorsee unless it expressly authorise him to do so. (3) Where a restrictive indorsement authorises further transfer, all subsequent indor￾sees take the bill with the same rights and subject to the same liabilities as the first indorsee under the restrictive indorsement. 36 Negotiation of overdue or dishonoured bill (1) Where a bill is negotiable in its origin it continues to be negotiable until it has been (a) restrictively indorsed or (b) discharged by payment or otherwise. (2) Where an overdue bill is negotiated, it can only be negotiated subject to any defect of title affecting it at its maturity, and thenceforward no person who takes it can acquire or give a better title than that which the person from whom he took it had. (3) A bill payable on demand is deemed to be overdue within the meaning and for the purposes of this section, when it appears on the face of it to have been in circula￾tion for an unreasonable length of time. What is an unreasonable length of time for this purpose is a question of fact. (4) Except where an indorsement bears date after the maturity of the bill, every nego￾tiation is prima facie deemed to have been effected before the bill was overdue. (5) Where a bill which is not overdue has been dishonoured any person who takes it with notice of the dishonour takes it subject to any defect of title attaching thereto at the time of dishonour, but nothing in this subsection shall affect the rights of a holder in due course. 37 Negotiation of bill to party already liable thereon

Where a bill is negotiated back to the drawer, or to a prior indorser or to the ac￾ceptor, such party may, subject to the provisions of this Act, re-issue and further negotiate the bill, but he is not entitled to enforce payment of the bill against any intervening party to whom he was previously liable. 38 Rights of the holder The rights and powers of the holder of a bill are as follows— (1) He may sue on the bill in his own name; (2) Where he is a holder in due course, he holds the bill free from any defect of title of prior parties, as well as from mere personal defences available to prior parties among themselves, and may enforce payment against all parties liable on the bill; (3) Where his title is defective (a) if he negotiates the bill to a holder in due course, that holder obtains a good and complete title to the bill, and (b) if he obtains pay￾ment of the bill the person who pays him in due course gets a valid discharge for the bill. General Duties of the Holder 39 When presentment for acceptance is necessary (1) Where a bill is payable after sight, presentment for acceptance is necessary in order to fix the maturity of the instrument. (2) Where a bill expressly stipulates that it shall be presented for acceptance, or where a bill is drawn payable elsewhere than at the residence or place of business of the drawee, it must be presented for acceptance before it can be presented for pay￾ment. (3) In no other case is presentment for acceptance necessary in order to render liable any party to the bill. (4) Where the holder of a bill, drawn payable elsewhere than at the place of business or residence of the drawee, has not time, with the exercise of reasonable diligence, to present the bill for acceptance before presenting it for payment on the day that it falls due, the delay caused by presenting the bill for acceptance before present￾ing it for payment is excused, and does not discharge the drawer and indorsers. 40 Time for presenting bill payable after sight (1) Subject to the provisions of this Act, when a bill payable after sight is negotiated, the holder must either present it for acceptance or negotiate it within a reasonable time. (2) If he do not do so, the drawer and all indorsers prior to that holder are discharged.

(3) In determining what is a reasonable time within the meaning of this section, regard shall be had to the nature of the bill, the usage of trade with respect to similar bills, and the facts of the particular case. 41 Rules as to presentment for acceptance, and excuses for non-presentment (1) A bill is duly presented for acceptance which is presented in accordance with the following rules— (a) The presentment must be made by or on behalf of the holder to the drawee or to some person authorised to accept or refuse acceptance on his behalf at a reasonable hour on a business day and before the bill is overdue; (b) Where a bill is addressed to two or more drawees, who are not partners, presentment must be made to them all, unless one has authority to accept for all, then presentment may be made to him only:
(c) Where the drawee is dead presentment may be made to his personal rep￾resentative; (d) Where the drawee is bankrupt, presentment may be made to him or to his trustee; (e) Where authorised by agreement or usage, a presentment through a postal operator is sufficient. (2) Presentment in accordance with these rules is excused, and a bill may be treated as dishonoured by non-acceptance— (a) Where the drawee is dead or bankrupt, or is a fictitious person or a person not having capacity to contract by bill; (b) Where, after the exercise of reasonable diligence, such presentment can￾not be effected; (c) Where, although the presentment has been irregular, acceptance has been refused on some other ground. (3) The fact that the holder has reason to believe that the bill, on presentment, will be dishonoured does not excuse presentment. 42 Non-acceptance When a bill is duly presented for acceptance and is not accepted within the cus￾tomary time, the person presenting it must treat it as dishonoured by non-ac￾ceptance. If he do not, the holder shall lose his right of recourse against the drawer and indorsers. 43 Dishonour by non-acceptance and its consequences (1) A bill is dishonoured by non-acceptance—

(a) when it is duly presented for acceptance, and such an acceptance as is prescribed by this Act is refused or cannot be obtained; or (b) when presentment for acceptance is excused and the bill is not accepted. (2) Subject to the provisions of this Act when a bill is dishonoured by non-acceptance, an immediate right of recourse against the drawer and indorsers accrues to the holder, and no presentment for payment is necessary. 44 Duties as to qualified acceptances (1) The holder of a bill may refuse to take a qualified acceptance, and if he does not obtain an unqualified acceptance may treat the bill as dishonoured by non-ac￾ceptance. (2) Where a qualified acceptance is taken, and the drawer or an indorser has not ex￾pressly or impliedly authorised the holder to take a qualified acceptance, or does not subsequently assent thereto, such drawer or indorser is discharged from his liability on the bill. The provisions of this subsection do not apply to a partial acceptance, whereof due notice has been given. Where a foreign bill has been accepted as to part, it must be protested as to the balance. (3) When the drawer or indorser of a bill receives notice of a qualified acceptance, and does not within a reasonable time express his dissent to the holder he shall be deemed to have assented thereto. 45 Rules as to presentment for payment Subject to the provisions of this Act a bill must be duly presented for payment. If it be not so presented the drawer and indorsers shall be discharged. A bill is duly presented for payment which is presented in accordance with the following rules— (1) Where the bill is not payable on demand, presentment must be made on the day it falls due. (2) Where the bill is payable on demand, then, subject to the provisions of this Act, presentment must be made within a reasonable time after its issue in order to render the drawer liable, and within a reasonable time after its in￾dorsement, in order to render the indorser liable. In determining what is a reasonable time, regard shall be had to the nature of the bill, the usage of trade with regard to similar bills, and the facts of the particular case. (3) Presentment must be made by the holder or by some person authorised to receive payment on his behalf at a reasonable hour on a business day, at the proper place as herein-after defined, either to the person designated by

the bill as payer, or to some person authorised to pay or refuse payment on his behalf if with the exercise of reasonable diligence such person can there be found. (4) A bill is presented at the proper place— (a) Where a place of payment is specified in the bill and the bill is there presented. (b) Where no place of payment is specified, but the address of the drawee or acceptor is given in the bill, and the bill is there presented. (c) Where no place of payment is specified and no address given, and the bill is presented at the drawee’s or acceptor’s place of business if known, and if not, at his ordinary residence if known. (d) In any other case if presented to the drawee or acceptor wherever he can be found, or if presented at his last known place of business or residence. (5) Where a bill is presented at the proper place, and after the exercise of rea￾sonable diligence no person authorised to pay or refuse payment can be found there, no further presentment to the drawee or acceptor is required. (6) Where a bill is drawn upon, or accepted by two or more persons who are not partners, and no place of payment is specified, presentment must be made to them all. (7) Where the drawee or acceptor of a bill is dead, and no place of payment is specified, presentment must be made to a personal representative, if such there be, and with the exercise of reasonable diligence he can be found. (8) Where authorised by agreement or usage a presentment through a postal operator is sufficient. 46 Excuses for delay or non-presentment for payment (1) Delay in making presentment for payment is excused when the delay is caused by circumstances beyond the control of the holder, and not imputable to his default, misconduct, or negligence. When the cause of delay ceases to operate present￾ment must be made with reasonable diligence. (2) Presentment for payment is dispensed with— (a) Where, after the exercise of reasonable diligence presentment, as required by this Act, cannot be effected. The fact that the holder has reason to believe that the bill will, on present￾ment, be dishonoured, does not dispense with the necessity for present￾ment.

(b) Where the drawee is a fictitious person.
(c) As regards the drawer where the drawee or acceptor is not bound as be￾tween himself and the drawer, to accept or pay the bill, and the drawer has no reason to believe that the bill would be paid if presented. (d) As regards an indorser, where the bill was accepted or made for the ac￾commodation of that indorser, and he has no reason to expect that the bill would paid if presented. (e) By waiver of presentment, express or implied. 47 Dishonour by non-payment (1) A bill is dishonoured by non-payment (a) when it is duly presented for payment and payment is refused or cannot be obtained, or (b) when presentment is excused and the bill is overdue and unpaid. (2) Subject to the provisions of this Act, when a bill is dishonoured by non-payment, an immediate right of recourse against the drawer and indorsers accrues to the holder. 48 Notice of dishonour and effect of non-notice Subject to the provisions of this Act, when a bill has been dishonoured by non￾acceptance or by non-payment, notice of dishonour must be given to the drawer and each indorser, and any drawer or indorser to whom such notice is not given is discharged; Provided that— (1) Where a bill is dishonoured by non-acceptance, and notice of dishonour is not given, the rights of a holder in due course, subsequent to the omission, shall not be prejudiced by the omission. (2) Where a bill is dishonoured by non-acceptance, and due notice of dishonour is given, it shall not be necessary to give notice of a subsequent dishonour by non￾payment unle the meantime have been accepted. 49 Rules as to notice of dishonour Notice of dishonour in order to be valid and effectual must be given in accordance with the following rules— (1) The notice must be given by or on behalf of the holder, or by or on behalf of an indorser who, at the time of giving it, is himself liable on the bill. (2) Notice of dishonour may be given by an agent either in his own name or in the name of any party entitled to give notice whether that party be his principal or not. (3) Where the notice is given by or on behalf of the holder, it enures for the benefit of

all subsequent holders and all prior indorsers who have a right of recourse against the party to whom it is given. (4) Where notice is given by or on behalf of an indorser entitled to give notice as herein- before provided, it enures for the benefit of the holder and all indorsers subsequent to the party to whom notice is given. (5) The notice may be given in writing or by personal communication, and may be given in any terms which sufficiently identify the bill, and intimate that the bill has been dishonoured by non-acceptance or non-payment. (6) The return of a dishonoured bill to the drawer or an indorser is, in point of form, deemed a sufficient notice of dishonour. (7) A written notice need not be signed, and an insufficient written notice may be sup￾plemented and validated by verbal communication. A misdescription of the bill shall not vitiate the notice unless the party to whom the notice is given is in fact misled thereby. (8) Where notice of dishonour is required to be given to any person, it may be given either to the party himself, or to his agent in that behalf. (9) Where the drawer or indorser is dead, and the party giving notice knows it, the notice must be given to a personal representative if such there be, and with the exercise of reasonable diligence he can be found. (10) Where the drawer or indorser is bankrupt, notice may be given either to the party himself or to the trustee. (11) Where there are two or more drawers or indorsers who are not partners, notice must be given to each of them, unless one of them has authority to receive such notice for the others. (12) The notice may be given as soon as the bill is dishonoured and must be given within a reasonable time thereafter. In the absence of special circumstances notice is not deemed to have been given within a reasonable time, unless— (a) where the person giving and the person to receive notice reside in the same place, the notice is given or sent off in time to reach the latter on the day after the dishonour of the bill; (b) where the person giving and the person to receive notice reside in different places, the notice is sent off on the day after the dishonour of the bill, if there be a post at a convenient hour on that day, and if there be no post on that day then by the next post thereafter. (13) Where a bill when dishonoured is in the hands of an agent, he may either himself give notice to the parties liable on the bill, or he may give notice to his principal. If

he give notice to his principal, he must do so within the same time as if he were the holder, and the principal upon receipt of such notice has himself the same time for giving notice as if the agent had been an independent holder. (14) Where a party to a bill receives due notice of dishonour, he has after the receipt of such notice the same period of time for giving notice to antecedent parties that the holder has after the dishonour. (15) Where a notice of dishonour is duly addressed and posted, the sender is deemed to have given due notice of dishonour, notwithstanding any miscarriage by the postal operator concerned. 50 Excuses for non-notice and delay (1) Delay in giving notice of dishonour is excused where the delay is caused by cir￾cumstances beyond the control of the party giving notice, and not imputable to his default, misconduct, or negligence. When the cause of delay ceases to operate the notice must be given with reasonable diligence. (2) Notice of dishonour is dispensed with— (a) When, after the exercise of reasonable diligence, notice as required by this Act cannot be given to or does not reach the drawer or indorser sought to be charged; (b) By waiver express or implied. Notice of dishonour may be waived before the time of giving notice has arrived, or after the omission to give due no￾tice; (c) As regards the drawer in the following cases, namely, (1) where drawer and drawee are the same person, (2) where the drawee is a fictitious person or a person not having capacity to contract, (3) where the drawer is the person to whom the bill is presented for payment, (4) where the drawee or acceptor is as between himself and the drawer under no obligation to accept or pay the bill, (5) where the drawer has countermanded payment; (d) As regards the indorser in the following cases, namely, (1) where the drawee is a fictitious person or a person not having capacity to contract, and the indorser was aware of the fact at the time he indorsed the bill, (2) where the indorser is the person to whom the bill is presented for payment, (3) where the bill was accepted or made for his accommodation. 51 Noting or protest of bill (1) Where an inland bill has been dishonoured it may, if the holder think fit, be noted for non-acceptance or non-payment, as the case may be; but it shall not be nec￾essary to note or protest any such bill in order to preserve the recourse against the drawer or indorser.

(2) Where a foreign bill, appearing on the face of it to be such, has been dishonoured by non-acceptance it must be duly protested for non-acceptance, and where such a bill, which has not been previously dishonoured by non-acceptance, is dishon￾oured by non-payment it must be duly protested for non-payment. If it be not so protested the drawer and indorsers are discharged. Where a bill does not appear on the face of it to be a foreign bill, protest thereof in case of dishonour is unnec￾essary. (3) A bill which has been protested for non-acceptance may be subsequently pro￾tested for non-payment. (4) Subject to the provisions of this Act, when a bill is noted or protested, it may be noted on the day of its dishonour and must be noted not later than the next suc￾ceeding business day. When a bill has been duly noted, the protest may be sub￾sequently extended as of the date of the noting. (5) Where the acceptor of a bill becomes bankrupt or insolvent or suspends payment before it matures, the holder may cause the bill to be protested for better security against the drawer and indorsers. (6) A bill must be protested at the place where it is dishonoured— Provided that— (a) When a bill is presented through a postal operator, and returned by post dishonoured, it may be protested at the place to which it is returned and on the day of its return if received during business hours, and if not received during business hours, then not later than the next business day:
(b) When a bill drawn payable at the place of business or residence of some person other than the drawee has been dishonoured by non-acceptance, it must be protested for non-payment at the place where it is expressed to be payable, and no further presentment for payment to, or demand on, the drawee is necessary. (7) A protest must contain a copy of the bill, and must be signed by the notary making it, and must specify— (a) The person at whose request the bill is protested; (b) The place and date of protest, the cause or reason for protesting the bill, the demand made, and the answer given, if any, or the fact that the drawee or acceptor could not be found. (8) Where a bill is lost or destroyed, or is wrongly detained from the person entitled to hold it, protest may be made on a copy or written particulars thereof. (9) Protest is dispensed with by any circumstances which would dispense with notice of dishonour. Delay in noting or protesting is excused when the delay is caused by circumstances beyond the control of the holder, and not imputable to his default,

misconduct, or negligence. When the cause of delay ceases to operate the bill must be noted or protested with reasonable diligence. 52 Duties of holder as regards drawee or acceptor (1) When a bill is accepted generally presentment for payment is not necessary in order to render the acceptor liable. (2) When by the terms of a qualified acceptance presentment for payment is required, the acceptor, in the absence of an express stipulation to that effect, is not dis￾charged by the omission to present the bill for payment on the day that it matures. (3) In order to render the acceptor of a bill liable it is not necessary to protest it, or that notice of dishonour should be given to him. (4) WhereSubject to Part 4A (presentment by electronic means), where the holder of a bill presents it for payment, he shall exhibit the bill to the person from whom he demands payment, and when a bill is paid the holder shall forthwith deliver it up to the party paying it. Liabilities of Parties 53 Funds in hands of drawee (1) A bill, of itself, does not operate as an assignment of funds in the hands of the drawee available for the payment thereof, and the drawee of a bill who does not accept as required by this Act is not liable on the instrument. 54 Liability of acceptor The acceptor of a bill, by accepting it— (1) Engages that he will pay it according to the tenor of his acceptance; (2) Is precluded from denying to a holder in due course— (a) The existence of the drawer, the genuineness of his signature, and his capacity and authority to draw the bill; (b) In the case of a bill payable to drawer’s order, the then capacity of the drawer to indorse, but not the genuineness or validity of his in￾dorsement; (c) In the case of a bill payable to the order of a third person, the exist￾ence of the payee and his then capacity to indorse, but not the gen￾uineness or validity of his indorsement. 55 Liability of drawer or indorser (1) The drawer of a bill by drawing it—

(a) Engages that on due presentment it shall be accepted and paid according to its tenor, and that if it be dishonoured he will compensate the holder or any indorser who is compelled to pay it, provided that the requisite pro￾ceedings on dishonour be duly taken; (b) Is precluded from denying to a holder in due course the existence of the payee and his then capacity to indorse. (2) The indorser of a bill by indorsing it— (a) Engages that on due presentment it shall be accepted and paid according to its tenor, and that if it be dishonoured he will compensate the holder or a subsequent indorser who is compelled to pay it, provided that the requisite proceedings on dishonour be duly taken; (b) Is precluded from denying to a holder in due course the genuineness and regularity in all respects of the drawer’s signature and all previous indorse￾ments; (c) Is precluded from denying to his immediate or a subsequent indorsee that the bill was at the time of his indorsement a valid and subsisting bill, and that he had then a good title thereto. 56 Stranger signing bill liable as indorser Where a person signs a bill otherwise than as drawer or acceptor, he thereby in￾curs the liabilities of an indorser to a holder in due course. 57 Measure of damages against parties to dishonoured bills Where a bill is dishonoured, the measure of damages, which shall be deemed to be liquidated damages, shall be as follows— (1) The holder may recover from any party liable on the bill, and the drawer who has been compelled to pay the bill may recover from the acceptor, and an indorser who has been compelled to pay the bill may recover from the acceptor or from the drawer, or from a prior indorser— (a) The amount of the bill; (b) Interest thereon from the time of presentment for payment if the bill is payable on demand, and from the maturity of the bill in any other case; (c) The expenses of noting, or, when protest is necessary, and the protest has been extended, the expenses of protest. (3) Where by this Act interest may be recovered as damages, such interest may, if justice require it, be withheld wholly or in part, and where a bill is expressed to be payable with interest at a given rate, interest as damages may or may not be given at the same rate as interest proper.

58 Transferor by delivery and transferee
(1) Where the holder of a bill payable to bearer negotiates it by delivery without in￾dorsing it he is called a “transferor by delivery.” (2) A transferor by delivery is not liable on the instrument. (3) A transferor by delivery who negotiates a bill thereby warrants to his immediate transferee being a holder for value that the bill is what it purports to be, that he has a right to transfer it, and that at the time of transfer he is not aware of any fact which renders it valueless. Discharge of Bill 59 Payment in due course (1) A bill is discharged by payment in due course by or on behalf of the drawee or acceptor. “Payment in due course” means payment made at or after the maturity of the bill to the holder thereof in good faith and without notice that his title to the bill is defective. (2) Subject to the provisions herein-after contained, when a bill is paid by the drawer or an indorser it is not discharged; but (a) Where a bill payable to, or to the order of, a third party is paid by the drawer, the drawer may enforce payment thereof against the acceptor, but may not re-issue the bill. (b) Where a bill is paid by an indorser, or where a bill payable to drawer’s order is paid by the drawer, the party paying it is remitted to his former rights as regards the acceptor or antecedent parties, and he may, if he thinks fit, strike out his own subsequent indorsements, and again negotiate the bill. (3) Where an accommodation bill is paid in due course by the party accommodated the bill is discharged. 60 Banker paying demand draft whereon indorsement is forged When a bill payable to order on demand is drawn on a banker, and the banker on whom it is drawn pays the bill in good faith and in the ordinary course of business, it is not incumbent on the banker to show that the indorsement of the payee or any subsequent indorsement was made by or under the authority of the person whose indorsement it purports to be, and the banker is deemed to have paid the bill in due course, although such indorsement has been forged or made without author￾ity. 61 Acceptor the holder at maturity When the acceptor of a bill is or becomes the holder of it at or after its maturity, in his own right, the bill is discharged.

62 Express waiver
(1) When the holder of a bill at or after its maturity absolutely and unconditionally re￾nounces his rights against the acceptor the bill is discharged. The renunciation must be in writing, unless the bill is delivered up to the acceptor. (2) The liabilities of any party to a bill may in like manner be renounced by the holder before, at, or after its maturity; but nothing in this section shall affect the rights of a holder in due course without notice of the renunciation. 63 Cancellation (1) Where a bill is intentionally cancelled by the holder or his agent, and the cancella￾tion is apparent thereon, the bill is discharged. (2) In like manner any party liable on a bill may be discharged by the intentional can￾cellation of his signature by the holder or his agent. In such case any indorser who would have had a right of recourse against the party whose signature is cancelled is also discharged. (3) A cancellation made unintentionally, or under a mistake, or without the authority of the holder is inoperative; but where a bill or any signature thereon appears to have been cancelled the burden of proof lies on the party who alleges that the cancella￾tion was made unintentionally, or under a mistake, or without authority. 64 Alteration of bill (1) Where a bill or acceptance is materially altered without the assent of all parties liable on the bill, the bill is avoided except as against a party who has himself made, authorised, or assented to the alteration, and subsequent indorsers. Provided that— Where a bill has been materially altered, but the alteration is not apparent, and the bill is in the hands of a holder in due course, such holder may avail himself of the bill as if it had not been altered, and may enforce payment of it according to its original tenour. (2) In particular the following alterations are material, namely, any alteration of the date, the sum payable, the time of payment, the place of payment, and, where a bill has been accepted generally, the addition of a place of payment without the acceptor’s assent. Acceptance and Payment for Honour 65 Acceptance for honour suprà protest (1) Where a bill of exchange has been protested for dishonour by non-acceptance, or protested for better security, and is not overdue, any person, not being a party already liable thereon, may, with the consent of the holder, intervene and accept

the bill suprà protest, for the honour of any party liable thereon, or for the honour of the person for whose account the bill is drawn. (2) A bill may be accepted for honour for part only of the sum for which it is drawn. (3) An acceptance for honour suprà protest in order to be valid must— (a) be written on the bill, and indicate that it is an acceptance for honour; (b) be signed by the acceptor for honour. (4) Where an acceptance for honour does not expressly state for whose honour it is made, it is deemed to be an acceptance of the honour of the drawer. (5) Where a bill payable after sight is accepted for honour, its maturity is calculated from the date of the noting for non-acceptance, and not from the date of the ac￾ceptance for honour. 66 Liability of acceptor for honour (1) The acceptor for honour of a bill by accepting it engages that he will, on due pre￾sentment, pay the bill according to the tenor of his acceptance, if it is not paid by the drawee, provided it has been duly presented for payment, and protested for non-payment, and that he receives notice of these facts. (2) The acceptor for honour is liable to the holder and to all parties to the bill subse￾quent to the party for whose honour he has accepted. 67 Presentment to acceptor for honour (1) Where a dishonoured bill has been accepted for honour suprà protest, or contains a reference in case of need, it must be protested for non-payment before it is pre￾sented for payment to the acceptor for honour, or referee in case of need. (2) Where the address of the acceptor for honour is in the same place where the bill is protested for non-payment, the bill must be presented to him not later than the day following its maturity; and where the address of the acceptor for honour is in some place other than the place where it was protested for non-payment, the bill must be forwarded not later than the day following its maturity for presentation to him. (3) Delay in presentment or non-presentment is excused by any circumstance which would excuse delay in presentment for payment or non-presentment for payment. (4) When a bill of exchange is dishonoured by the acceptor for honour it must be pro￾tested for non-payment by him. 68 Payment for honour suprà protest

(1) Where a bill has been protested for non-payment, any person may intervene and pay it suprà protest for the honour of any party liable thereon, or for the honour of the person for whose account the bill is drawn. (2) Where two or more persons offer to pay a bill for the honour of different parties, the person whose payment will discharge most parties to the bill shall have the preference. (3) Payment for honour suprà protest, in order to operate as such and not as a mere voluntary payment, must be attested by a notarial act of honour which may be appended to the protest or form an extension of it. (4) The notarial act of honour must be founded on a declaration made by the payer for honour, or his agent in that behalf, declaring his intention to pay the bill for honour, and for whose honour he pays. (5) Where a bill has been paid for honour, all parties subsequent to the party for whose honour it is paid are discharged, but the payer for honour is subrogated for, and succeeds to both the rights and duties of, the holder as regards the party for whose honour he pays, and all parties liable to that party. (6) The payer for honour on paying to the holder the amount of the bill and the notarial expenses incidental to its dishonour is entitled to receive both the bill itself and the protest. If the holder do not on demand deliver them up he shall be liable to the payer for honour in damages. (7) Where the holder of a bill refuses to receive payment suprà protest he shall lose his right of recourse against any party who would have been discharged by such payment. Lost Instruments 69 Holder’s right to duplicate of lost bill Where a bill has been lost before it is overdue the person who was the holder of it may apply to the drawer to give him another bill of the same tenor, giving security to the drawer if required to indemnify him against all persons whatever in case the bill alleged to have been lost shall be found again. If the drawer on request as aforesaid refuses to give such duplicate bill he may be compelled to do so. 70 Action on lost bill In any action or proceeding upon a bill, the court or a judge may order that the loss of the instrument shall not be set up, provided an indemnity be given to the satis￾faction of the court or judge against the claims of any other person upon the in￾strument in question.

Bill in a Set
71 Rules as to sets
(1) Where a bill is drawn in a set, each part of the set being numbered, and containing a reference to the other parts the whole of the parts constitute one bill. (2) Where the holder of a set indorses two or more parts to different persons, he is liable on every such part, and every indorser subsequent to him is liable on the
part he has himself indorsed as if the said parts were separate bills.
(3) Where two or more parts of a set are negotiated to different holders in due course, the holder whose title first accrues is as between such holders deemed the true owner of the bill; but nothing in this subsection shall affect the rights of a person who in due course accepts or pays the part first presented to him. (4) The acceptance may be written on any part, and it must be written on one part only. If the drawee accepts more than one part, and such accepted parts get into the hands of different holders in due course, he is liable on every such part as if it were a separate bill. (5) When the acceptor of a bill drawn in a set pays it without requiring the part bearing his acceptance to be delivered up to him, and that part at maturity is outstanding in the hands of a holder in due course, he is liable to the holder thereof. (6) Subject to the preceding rules, where any one part of a bill drawn in a set is dis￾charged by payment or otherwise, the whole bill is discharged. Conflict of Laws 72 Rules where laws conflict Where a bill drawn in one country is negotiated, accepted, or payable in another, the rights, duties, and liabilities of the parties thereto are determined as follows— (1) The validity of a bill as regards requisites in form is determined by the law of the place of issue, and the validity as regards requisites in form of the supervening contracts, such as acceptance, or indorsement, or acceptance suprà protest, is determined by the law of the place where such contract was made. Provided that— (a) Where a bill is issued out of the Abu Dhabi Global Market it is not invalid by reason only that it is not stamped in accordance with the law of the place of issue; (b) Where a bill, issued out of the Abu Dhabi Global Market, conforms, as re￾gards requisites in form, to the law of the Abu Dhabi Global Market, it may, for the purpose of enforcing payment thereof, be treated as valid as be￾tween all persons who negotiate, hold, or become parties to it in the Abu Dhabi Global Market.

(2) Subject to the provisions of this Act, the interpretation of the drawing, indorsement, acceptance, or acceptance suprà protest of a bill, is determined by the law of the place where such contract is made. Provided that where an inland bill is indorsed in a foreign country the indorsement shall as regards the payer be interpreted according to the law of the Abu Dhabi Global Market (3) The duties of the holder with respect to presentment for acceptance or payment and the necessity for or sufficiency of a protest or notice of dishonour, or otherwise, are determined by the law of the place where the act is done or the bill is dishon￾oured. (5) Where a bill is drawn in one country and is payable in another, the due date thereof is determined according to the law of the place where it is payable.
Part III
Cheques on a Banker
73 Cheque defined
A cheque is a bill of exchange drawn on a banker payable on demand. Except as otherwise provided in this Part, the provisions of this Act applicable to a bill of exchange payable on demand apply to a cheque. 74 Presentment of cheque for payment Subject to the provisions of this Act— (1) Where a cheque is not presented for payment within a reasonable time of its issue, and the drawer or the person on whose account it is drawn had the right at the time of such presentment as between him and the banker to have the cheque paid and suffers actual damage through the delay, he is discharged to the extent of such damage, that is to say, to the extent to which such drawer or person is a creditor of such banker to a larger amount than he would have been had such cheque been paid. (2) In determining what is a reasonable time regard shall be had to the nature of the instrument, the usage of trade and of bankers, and the facts of the particular case. (3) The holder of such cheque as to which such drawer or person is discharged shall be a creditor, in lieu of such drawer or person, of such banker to the extent of such discharge, and entitled to recover the amount from him. 74A Presentment of cheque for payment: alternative place of presentment Where the banker on whom a cheque is drawn—

(a) has by notice published in at least two leading English language newspa￾pers of the United Arab Emirates specified an address at which cheques drawn on him may be presented; and (b) has not by notice so published cancelled the specification of that address, the cheque is also presented at the proper place if it is presented there. 74B Presentment of cheque for payment: alternative means of presentment by banker (1) A banker may present a cheque for payment to the banker on whom it is drawn by notifying him of its essential features by electronic means or otherwise, instead of by presenting the cheque itself. (2) If a cheque is presented for payment under this section, presentment need not be made at the proper place or at a reasonable hour on a business day. (3) If, before the close of business on the next business day following presentment of a cheque under this section, the banker on whom the cheque is drawn requests the banker by whom the cheque was pre-sented to present the cheque itself— (a) the presentment under this section shall be disregarded; and (b) this section shall not apply in relation to the subsequent presentment of the cheque. (4) A request under subsection (3) above for the presentment of a cheque shall not constitute dishonour of the cheque by non-payment. (5) Where presentment of a cheque is made under this section, the banker who pre￾sented the cheque and the banker on whom it is drawn shall be subject to the same duties in relation to the collection and payment of the cheque as if the cheque itself had been presented for payment. (6) For the purposes of this section, the essential features of a cheque are— (a) the serial number of the cheque; (b) the code which identifies the banker on whom the cheque is drawn; (c) the account number of the drawer of the cheque; and (d) the amount of the cheque is entered by the drawer of the cheque. 74C Cheques presented for payment under section 74B: disapplication of section 52(4)
Section 52(4) above—
(a) so far as relating to presenting a bill for payment, shall not apply to pre￾senting a cheque for payment under section 74B above; and

(b) so far as relating to a bill which is paid, shall not apply to a cheque which is paid following presentment under that section. 75 Revocation of banker’s authority The duty and authority of a banker to pay a cheque drawn on him by his customer are determined by— (1) Countermand of payment; (2) Notice of the customer’s death. Crossed cheques 76 General and special crossings defined (1) Where a cheque bears across its face an addition of— (a) The words “and company” or any abbreviation thereof between two parallel transverse lines, either with or without the words “not negotiable”; or (b) Two parallel transverse lines simply, either with or without the words “not negotiable”; that addition constitutes a crossing, and the cheque is crossed generally. (2) Where a cheque bears across its face an addition of the name of a banker, either with or without the words “not negotiable”, that addition constitutes a crossing, and the cheque is crossed specially and to that banker. 77 Crossing by drawer or after issue (1) A cheque may be crossed generally or specially by the drawer. (2) Where a cheque is uncrossed, the holder may cross it generally or specially. (3) Where a cheque is crossed generally the holder may cross it specially. (4) Where a cheque is crossed generally or specially, the holder may add the words “not negotiable”. (5) Where a cheque is crossed specially, the banker to whom it is crossed may again cross it specially to another banker for collection. (6) Where an uncrossed cheque, or a cheque crossed generally, is sent to a banker for collection, he may cross it specially to himself. 78 Crossing a material part of cheque

A crossing authorised by this Act is a material part of the cheque; it shall not be lawful for any person to obliterate or, except as authorised by this Act, to add to or alter the crossing. 79 Duties of banker as to crossed cheques (1) Where a cheque is crossed specially to more than one banker except when crossed to an agent for collection being a banker, the banker on whom it is drawn shall refuse payment thereof. (2) Where the banker on whom a cheque is drawn which is so crossed nevertheless pays the same, or pays a cheque crossed generally otherwise than to a banker, or if crossed specially otherwise than to the banker to whom it is crossed, or his agent for collection being a banker, he is liable to the true owner of the cheque for any loss he may sustain owing to the cheque having been so paid. Provided that where a cheque is presented for payment which does not at the time of presentment appear to be crossed, or to have had a crossing which has been obliterated, or to have been added to or altered otherwise than as authorised by this Act, the banker paying the cheque in good faith and without negligence shall not be responsible or incur any liability, nor shall the payment be questioned by reason of the cheque having been crossed, or of the crossing having been oblite￾rated or having been added to or altered otherwise than as authorised by this Act, and of payment having been made otherwise than to a banker or to the banker to whom the cheque is or was crossed, or to his agent for collection being a banker, as the case may be. 80 Protection to banker and drawer where cheque is crossed Where the banker, on whom a crossed cheque (including a cheque which under
section 81A below or otherwise is not transferable) is drawn, in good faith and
without negligence pays it, if crossed generally, to a banker, and if crossed spe￾cially, to the banker to whom it is crossed, or his agent for collection being a banker, the banker paying the cheque, and, if the cheque has come into the hands of the payee, the drawer, shall respectively be entitled to the same rights and be placed in the same position as if payment of the cheque had been made to the true owner thereof. 81 Effect of crossing on holder Where a person takes a crossed cheque which bears on it the words “not negotia￾ble”, he shall not have and shall not be capable of giving a better title to the cheque than that which the person from whom he took it had. 81A Non-transferable cheques (1) Where a cheque is crossed and bears across its face the words “account payee” or “a/c payee”, either with or without the word “only”, the cheque shall not be trans￾ferable, but shall only be valid as between the parties thereto.

(2) A banker is not to be treated for the purposes of section 80 above as having been negligent by reason only of his failure to concern himself with any purported in￾dorsement of a cheque which under subsection (1) above or otherwise is not trans￾ferable.
Part IV
Promissory Notes
83 Promissory note defined
(1) A promissory note is an unconditional promise in writing made by one person to another signed by the maker, engaging to pay, on demand or at a fixed or deter￾minable future time, a sum certain in money, to, or to the order of, a specified person or to bearer. (2) An instrument in the form of a note payable to maker’s order is not a note within the meaning of this section unless and until it is indorsed by the maker. (3) A note is not invalid by reason only that it contains also a pledge of collateral se￾curity with authority to sell or dispose thereof. (4) A note which is, or on the face of it purports to be, both made and payable within the Abu Dhabi Global Market is an inland note. Any other note is a foreign note. 84 Delivery necessary A promissory note is inchoate and incomplete until delivery thereof to the payee or bearer. 85 Joint and several notes (1) A promissory note may be made by two or more makers, and they may be liable thereon jointly, or jointly and severally according to its tenour. (2) Where a note runs “I promise to pay” and is signed by two or more persons it is deemed to be their joint and several note. 86 Note payable on demand (1) Where a note payable on demand has been indorsed, it must be presented for payment within a reasonable time of the indorsement. If it be not so presented the indorser is discharged. (2) In determining what is reasonable time, regard shall be had to the nature of the instrument, the usage of trade, and the facts of the particular case. (3) Where a note payable on demand is negotiated, it is not deemed to be overdue, for the purpose of affecting the holder with defects of title of which he had no notice, by reason that it appears that a reasonable time for presenting it for payment has elapsed since its issue.

87 Presentment of note for payment
(1) Where a promissory note is in the body of it made payable at a particular place, it must be presented for payment at that place in order to render the maker liable. In any other case, presentment for payment is not necessary in order to render the maker liable (2) Presentment for payment is necessary in order to render the indorser of a note liable. (3) Where a note is in the body of it made payable at a particular place, presentment at that place is necessary in order to render an indorser liable; but when a place of payment is indicated by way of memorandum only, presentment at that place is sufficient to render the indorser liable, but a presentment to the maker elsewhere, if sufficient in other respects, shall also suffice. (4) This section is subject to Part 4A (presentment by electronic means). 88 Liability of maker The maker of a promissory note by making it— (1) Engages that he will pay it according to its tenour; (2) Is precluded from denying to a holder in due course the existence of the payee and his then capacity to indorse. 89 Application of Part II to notes (1) Subject to the provisions in this part, and except as by this section provided, the provisions of this Act relating to bills of exchange apply, with the necessary modi￾fications, to promissory notes. (2) In applying those provisions the maker of a note shall be deemed to correspond with the acceptor of a bill, and the first indorser of a note shall be deemed to cor￾respond with the drawer of an accepted bill payable to drawer’s order. (3) The following provisions as to bills do not apply to notes; namely, provisions relat￾ing to— (a) Presentment for acceptance; (b) Acceptance; (c) Acceptance suprà protest; (d) Bills in a set. (4) Where a foreign note is dishonoured, protest thereof is unnecessary.

PART 4A
Presentment of cheques and other instruments by electronic means 89A Presentment of instruments by electronic means (1) Presentment for payment of an instrument to which this section applies may be effected by provision of an electronic image of both faces of the instrument, instead of by presenting the physical instrument, if the person to whom presentment is made accepts the presentment as effective. This is subject to rules under subsection (2) and to section 89C. (2) The Board may by rules prescribe circumstances in which subsection (1) does not apply. (3) Rules under subsection (2) may in particular prescribe circumstances by reference to— (a) descriptions of instrument; (b) arrangements under which presentment is made; (c) descriptions of persons by or to whom presentment is made; (d) descriptions of persons receiving payment or on whose behalf payment is received. (4) Where presentment for payment is made under subsection (1)— (a) any requirement— (i) that the physical instrument must be exhibited, presented or deliv￾ered on or in connection with presentment or payment (including after presentment or payment or in connection with dishonour for non-payment), or (ii) as to the day, time or place on or at which presentment of the phys￾ical instrument may be or is to be made, and (b) any other requirement which is inconsistent with subsection (1), does not apply. (5) Subsection (4) does not affect any requirement as to the latest time for present￾ment. (6) References in subsections (4) and (5) to a requirement are to a requirement or prohibition, whether imposed by or under any enactment, by a rule of law or by the instrument in question. (7) Where an instrument is presented for payment under this section—

(a) any banker providing the electronic image, (b) any banker to whom it is provided, and (c) any banker making payment of the Instrument as a result of provision of the electronic image, are subject to the same duties in relation to collection and payment of the instrument as if the physical instrument had been pre￾sented. This is subject to any provision made by or under this Part. 89B Instruments to which section 89A applies (1) Subject to subsection (2), section 89A applies to— (a) a cheque; or (b) any other bill of exchange or any promissory note or other instrument— (i) which appears to be intended by the person creating it to enable a person to obtain payment from a banker indicated in it of the sum so mentioned; (ii) payment of which requires the instrument to be presented; and (iii) which, but for section 89A, could not be presented otherwise than by presenting the physical instrument. (2) Section 89A does not apply to any banknote. (3) The reference in subsection (1) to the person creating an instrument is— (a) in the case of a bill of exchange, a reference to the drawer; (b) in the case of a promissory note, a reference to the maker. (4) For the purposes of subsection (1)(b)(i) an indication may be by code or number and need not indicate that payment is intended to be obtained from the banker. 89C Banker's obligation in relation to accepting physical instrument for pre￾sentment Provision of an electronic image of an instrument does not constitute presentment of the instrument under section 89A if the arrangements between— (a) the banker authorised to collect payment of the instrument on behalf of a customer, and (b) that customer,

do not permit the customer to pay in the physical instrument but instead require an electronic image to be provided (whether to that banker or to any other person). 89D Copies of instruments and evidence of payment (1) The Board may by rules make provision for— (a) requiring a copy of an instrument paid as a result of presentment under
section 89A to be provided, on request, to the creator of the instrument by
the banker who paid the instrument;
(b) a copy of an instrument provided in accordance with the rules to be evi￾dence of receipt by a person identified in accordance with the rules of the sum payable by the instrument. (2) Rules under subsection (1)(a) may in particular— (a) prescribe the manner and form in which a copy is to be provided; (b) require the copy to be certified to be a true copy of the electronic image provided to the banker making the payment on presentment under section 89A; (c) provide for the copy to be accompanied by prescribed information; (d) require any copy to be provided free of charge or permit charges to be made for the provision of copies in prescribed circumstances. (3) The reference in subsection (1)(a) to the creator of the instrument is— (a) in the case of a bill of exchange, a reference to the drawer; (b) in the case of a promissory note, a reference to the maker. 89E Compensation in cases of presentment by electronic means (1) The Board may by rules make provision for the responsible banker to compensate any person for any loss of a kind specified by the rules which that person incurs in connection with electronic presentment or purported electronic presentment of an instrument. (2) In this section “electronic presentment or purported electronic presentment of an instrument” includes— (a) presentment of an instrument to which section 89A applies under that sec￾tion; (b) presentment of any other instrument by any means involving provision of an electronic image by which it may be presented for payment;

(c) purported presentment for payment by any means involving provision of an electronic image of an instrument that may not be presented for payment in that way; (d) provision, in purported presentment for payment, of— (i) an electronic image that purports to be, but is not, an image of a physical instrument (including an image that has been altered elec￾tronically), or (ii) an electronic image of an instrument which has no legal effect; or (e) provision, in presentment or purported presentment for payment, of an electronic image which has been stolen. (3) In this section, the “responsible banker”, in relation to electronic presentment or purported electronic presentment of an instrument, means— (a) the banker who is authorised to collect payment of the instrument on a customer's behalf, or (b) if the holder of the instrument is a banker, that banker. (4) In this section— (a) references to an instrument include references to an instrument which has no legal effect (whether because it has been fraudulently altered or cre￾ated, or because it has been discharged, or otherwise); (b) in relation to an electronic image which is not an image of a physical instru￾ment, references to the instrument are to a purported instrument (of which it purports to be an image); and (c) in relation to an instrument which is not a bill of exchange or promissory note, references to the holder are to the payee or indorsee of the instru￾ment who is in possession of it or, if it is payable to bearer, the per-son in possession of it. (5) Rules under this section may in particular make provision for— (a) the responsible banker to be required to pay compensation irrespective of fault; (b) the amount of compensation to be reduced by virtue of anything done, or any failure to act, by the person to whom compensation is payable. (6) Nothing in this section or rules under it is to be taken to— (a) prevent the responsible banker claiming a contribution from any other per￾son, or

(b) affect any remedy available to the responsible banker in contract or other￾wise. (7) Except so far as rules under this section provide expressly, nothing in this section or rules under it is to be taken to affect any liability of the responsible banker which exists apart from this section or any such rules. 89F Supplementary (1) Rules under this Part may— (a) include incidental, supplementary and consequential provision; (b) make transitory or transitional provision or savings; (c) make different provision for different cases or circumstances or for different purposes; (d) make provision subject to exceptions. (2) For the purposes of this Part, a banker collects payment of an instrument on behalf of a customer by— (a) receiving payment of the instrument for the customer, or (b) receiving payment of the instrument for the banker (but not as holder), hav￾ing— (i) credited the customer's account with the amount of the instrument, or (ii) otherwise given value to the customer in respect of the instrument. (3) Section 89E(4) applies for the purposes of subsection (5) in its application to sec￾tion 89E.
Part V
Supplementary
90 Good faith
A thing is deemed to be done in good faith, within the meaning of this Act, where it is in fact done honestly, whether it is done negligently or not. 91 Signature (1) Where, by this Act, any instrument or writing is required to be signed by any person it is not necessary that he should sign it with his own hand, but it is sufficient if his signature is written thereon by some other person by or under his authority.

(2) In the case of a corporation, where, by this Act, any instrument or writing is required to be signed, it is sufficient if the instrument or writing be sealed with the corporate seal. But nothing in this section shall be construed as requiring the bill or note of a cor￾poration to be under seal. 92 Computation of time Where, by this Act, the time limited for doing any act or thing is less than three days, in reckoning time, non-business days are excluded. “Non-business days” for the purposes of this Act mean any Friday, Saturday or any other day declared a public holiday in the United Arab Emirates. Any other day is a business day. 93 When noting equivalent to protest For the purposes of this Act, where a bill or note is required to be protested within a specified time or before some further proceeding is taken, it is sufficient that the bill has been noted for protest before the expiration of the specified time or the taking of the proceeding; and the formal protest may be extended at any time thereafter as of the date of the noting. 94 Protest when notary not accessible (1) Where a dishonoured bill or note is authorised or required to be protested, and the services of a notary cannot be obtained at the place where the bill is dishonoured, any householder or substantial resident of the place may, in the presence of two witnesses, give a certificate, signed by them, attesting the dishonour of the bill, and the certificate shall in all respects operate as if it were a formal protest of the bill. The form given in Schedule 1 to this Act may be used with necessary modifica￾tions, and if used shall be sufficient. 95 Dividend warrants may be crossed The provisions of this Act as to crossed cheques shall apply to a warrant for pay￾ment of dividend. 97 Savings (1) The rules in bankruptcy relating to bills of exchange, promissory notes, and cheques, shall continue to apply thereto notwithstanding anything in this Act con￾tained. (2) The rules of common law including the law merchant, save in so far as they are inconsistent with the express provisions of this Act, shall continue to apply to bills of exchange, promissory notes, and cheques.

(3) Nothing in this Act shall affect—
(b) The provisions of the Companies Regulations 2015 or enactments amending it, or any enactment relating to joint stock banks or companies:
(d) The validity of any usage relating to dividend warrants, or the indorse￾ments thereof.
SCHEDULE 1
Section 94
Form of protest which may be used when the services of a notary cannot be obtained Know all men that I, AB (householder), of .. .. .. in the county of .. .. .. in the Abu Dhabi Global Market, at the request of CD, there being no notary public available, did on the .. .. .. day of .. .. .. .. .. .. .. at .. .. .. demand payment (or acceptance) of the bill of exchange hereunder written, from EF, to which demand he made answer (state answer, if any) wherefore I now, in the presence of GH and JK do protest the said bill of exchange. (Signed) . . . AB GH JK Witnesses. NB—The bill itself should be annexed, or a copy of the bill and all that is written thereon should be underwritten.

---

Attachment C
Marine Insurance Act 1906
Chapter 41
Marine Insurance
1 Marine insurance defined
A contract of marine insurance is a contract whereby the insurer undertakes to indem￾nify the assured, in manner and to the extent thereby agreed, against marine losses, that is to say, the losses incident to marine adventure. 2 Mixed sea and land risks (1) A contract of marine insurance may, by its express terms, or by usage of trade, be extended so as to protect the assured against losses on inland waters or on any land risk which may be incidental to any sea voyage. (2) Where a ship in course of building, or the launch of a ship, or any adventure analogous to a marine adventure, is covered by a policy in the form of a marine policy, the provi￾sions of this Act, in so far as applicable, shall apply thereto; but, except as by this
section provided, nothing in this Act shall alter or affect any rule of law applicable to
any contract of insurance other than a contract of marine insurance as by this Act de￾fined. 3 Marine adventure and maritime perils defined (1) Subject to the provisions of this Act, every lawful marine adventure may be the subject of a contract of marine insurance. (2) In particular there is a marine adventure where— (a) Any ship goods or other moveables are exposed to maritime perils. Such prop￾erty is in this Act referred to as “insurable property”; (b) The earning or acquisition of any freight, passage money, commission, profit, or other pecuniary benefit, or the security for any advances, loan, or disburse￾ments, is endangered by the exposure of insurable property to maritime perils; (c) Any liability to a third party may be incurred by the owner of, or other person interested in or responsible for, insurable property, by reason of maritime perils. “Maritime perils” means the perils consequent on, or incidental to, the navigation of the sea, that is to say, perils of the seas, fire, war perils, pirates, rovers, thieves, captures,

Attachment C seisures, restraints, and detainments of princes and peoples, jettisons, barratry, and any other perils, either of the like kind or which may be designated by the policy. Insurable Interest 4 Avoidance of wagering or gaming contracts (1) Every contract of marine insurance by way of gaming or wagering is void. (2) A contract of marine insurance is deemed to be a gaming or wagering contract— (a) Where the assured has not an insurable interest as defined by this Act, and the contract is entered into with no expectation of acquiring such an interest; or (b) Where the policy is made “interest or no interest,” or “without further proof of interest than the policy itself,” or “without benefit of salvage to the insurer,” or subject to any other like term:
Provided that, where there is no possibility of salvage, a policy may be effected without benefit of salvage to the insurer. 5 Insurable interest defined (1) Subject to the provisions of this Act, every person has an insurable interest who is interested in a marine adventure. (2) In particular a person is interested in a marine adventure where he stands in any legal or equitable relation to the adventure or to any insurable property at risk therein, in consequence of which he may benefit by the safety or due arrival of insurable property, or may be prejudiced by its loss, or damage thereto, or by the detention thereof, or may incur liability in respect thereof. 6 When interest must attach (1) The assured must be interested in the subject-matter insured at the time of the loss though he need not be interested when the insurance is effected, Provided that where the subject-matter is insured “lost or not lost,” the assured may recover although he may not have acquired his interest until after the loss, unless at the time of effecting the contract of insurance the assured was aware of the loss, and the insurer was not. (2) Where the assured has no interest at the time of the loss, he cannot acquire interest by any act or election after he is aware of the loss. 7 Defeasible or contingent interest (1) A defeasible interest is insurable, as also is a contingent interest.

Attachment C
(2) In particular, where the buyer of goods has insured them, he has an insurable interest, notwithstanding that he might, at his election, have rejected the goods, or have treated them as at the seller’s risk, by reason of the latter’s delay in making delivery or other￾wise. 8 Partial interest A partial interest of any nature is insurable. 9 Re-insurance (1) The insurer under a contract of marine insurance has an insurable interest in his risk, and may re-insure in respect of it. (2) Unless the policy otherwise provides, the original assured has no right or interest in respect of such re-insurance. 10 Bottomry The lender of money on bottomry or respondentia has an insurable interest in respect of the loan. 11 Master's and seamen's wages The master or any member of the crew of a ship has an insurable interest in respect of his wages. 12 Advance freight In the case of advance freight, the person advancing the freight has an insurable inter￾est, in so far as such freight is not repayable in case of loss. 13 Charges of insurance The assured has an insurable interest in the charges of any insurance which he may effect. 14 Quantum of interest (1) Where the subject-matter insured is mortgaged, the mortgagor has an insurable inter￾est in the full value thereof, and the mortgagee has an insurable interest in respect of any sum due or to become due under the mortgage. (2) A mortgagee, consignee, or other person having an interest in the subject-matter in￾sured may insure on behalf and for the benefit of other persons interested as well as for his own benefit.

Attachment C
(3) The owner of insurable property has an insurable interest in respect of the full value thereof, notwithstanding that some third person may have agreed, or be liable, to in￾demnify him in case of loss. 15 Assignment of interest Where the assured assigns or otherwise parts with his interest in the subject-matter insured, he does not thereby transfer to the assignee his rights under the contract of insurance, unless there be an express or implied agreement with the assignee to that effect. But the provisions of this section do not affect a transmission of interest by operation of law. Insurable Value 16 Measure of insurable value Subject to any express provision or valuation in the policy, the insurable value of the subject-matter insured must be ascertained as follows— (1) In insurance on ship, the insurable value is the value, at the commencement of the risk, of the ship, including her outfit, provisions and stores for the officers and crew, money advanced for seamen’s wages, and other disbursements (if any) incurred to make the ship fit for the voyage or adventure contemplated by the policy, plus the charges of insurance upon the whole, The insurable value, in the case of a steamship, includes also the machinery, boilers, and coals and engine stores if owned by the assured, and, in the case of a ship engaged in a special trade, the ordinary fittings requisite for that trade, (2) In insurance on freight, whether paid in advance or otherwise, the insurable value is the gross amount of the freight at the risk of the assured, plus the charges of insurance:
(3) In insurance on goods or merchandise, the insurable value is the prime cost of the property insured, plus the expenses of and incidental to shipping and the charges of insurance upon the whole; (4) In insurance on any other subject-matter, the insurable value is the amount at the risk of the assured when the policy attaches, plus the charges of insurance. Disclosure and Representations 17 Insurance is uberrimae fidei

Attachment C
A contract of marine insurance is a contract based upon the utmost good faith, and, if the utmost good faith be not observed by either party, the contract may be avoided by the other party. 18 Disclosure by assured (1) Subject to the provisions of this section, the assured must disclose to the insurer, be￾fore the contract is concluded, every material circumstance which is known to the as￾sured, and the assured is deemed to know every circumstance which, in the ordinary course of business, ought to be known by him. If the assured fails to make such dis￾closure, the insurer may avoid the contract. (2) Every circumstance is material which would influence the judgment of a prudent insurer in fixing the premium, or determining whether he will take the risk. (3) In the absence of inquiry the following circumstances need not be disclosed, namely:— (a) Any circumstance which diminishes the risk; (b) Any circumstance which is known or presumed to be known to the insurer. The insurer is presumed to know matters of common notoriety or knowledge, and matters which an insurer in the ordinary course of his business, as such, ought to know; (c) Any circumstance as to which information is waived by the insurer; (d) Any circumstance which it is superfluous to disclose by reason of any express or implied warranty. (4) Whether any particular circumstance, which is not disclosed, be material or not is, in each case, a question of fact. (5) The term “circumstance” includes any communication made to, or information received by, the assured. 19 Disclosure by agent effecting insurance (1) Subject to the provisions of the preceding section as to circumstances which need not be disclosed, where an insurance is effected for the assured by an agent, the agent must disclose to the insurer— (a) Every material circumstance which is known to himself, and an agent to insure is deemed to know every circumstance which in the ordinary course of business ought to be known by, or to have been communicated to, him; and (b) Every material circumstance which the assured is bound to disclose, unless it come to his knowledge too late to communicate it to the agent.

Attachment C
20 Representations pending negotiation of contract (1) Every material representation made by the assured or his agent to the insurer during the negotiations for the contract, and before the contract is concluded, must be true. If it be untrue the insurer may avoid the contract. (2) A representation is material which would influence the judgment of a prudent insurer in fixing the premium, or determining whether he will take the risk. (3) A representation may be either a representation as to a matter of fact, or as to a matter of expectation or belief. (4) A representation as to matter of fact is true, if it be substantially correct, that is to say, if the difference between what is represented and what is actually correct would not be considered material by a prudent insurer. (5) A representation as to a matter of expectation or belief is true if it be made in good faith. (6) A representation may be withdrawn or corrected before the contract is concluded. (7) Whether a particular representation be material or not is, in each case, a question of fact. 21 When contract is deemed to be concluded A contract of marine insurance is deemed to be concluded when the proposal of the assured is accepted by the insurer, whether the policy be then issued or not; and, for the purpose of showing when the proposal was accepted, reference may be made to the slip or covering note or other customary memorandum of the contract. The Policy 22 Contract must be embodied in policy Subject to the provisions of any statute, a contract of marine insurance is inadmissible in evidence unless it is embodied in a marine policy in accordance with this Act. The policy may be executed and issued either at the time when the contract is concluded, or afterwards. 23 What policy must specify A marine policy must specify— (1) The name of the assured, or of some person who effects the insurance on his behalf.

Attachment C
24 Signature of insurer
(1) A marine policy must be signed by or on behalf of the insurer, provided that in the case of a corporation the corporate seal may be sufficient, but nothing in this section shall be construed as requiring the subscription of a corporation to be under seal. (2) Where a policy is subscribed by or on behalf of two or more insurers, each subscription, unless the contrary be expressed, constitutes a distinct contract with the assured. 25 Voyage and time policies (1) Where the contract is to insure the subject-matter “at and from”, or from one place to another or others, the policy is called a “voyage policy”, and where the contract is to insure the subject-matter for a definite period of time the policy is called a “time policy”. A contract for both voyage and time may be included in the same policy. 26 Designation of subject-matter (1) The subject-matter insured must be designated in a marine policy with reasonable cer￾tainty. (2) The nature and extent of the interest of the assured in the subject-matter insured need not be specified in the policy. (3) Where the policy designates the subject-matter insured in general terms, it shall be construed to apply to the interest intended by the assured to be covered. (4) In the application of this section regard shall be had to any usage regulating the des￾ignation of the subject-matter insured. 27 Valued policy (1) A policy may be either valued or unvalued. (2) A valued policy is a policy which specifies the agreed value of the subject-matter in￾sured. (3) Subject to the provisions of this Act, and in the absence of fraud, the value fixed by the policy is, as between the insurer and assured, conclusive of the insurable value of the subject intended to be insured, whether the loss be total or partial. (4) Unless the policy otherwise provides, the value fixed by the policy is not conclusive for the purpose of determining whether there has been a constructive total loss. 28 Unvalued policy An unvalued policy is a policy which does not specify the value of the subject-matter insured, but, subject to the limit of the sum insured, leaves the insurable value to be

Attachment C subsequently ascertained, in the manner herein-before specified. 29 Floating policy by ship or ships (1) A floating policy is a policy which describes the insurance in general terms, and leaves the name of the ship or ships and other particulars to be defined by subsequent decla￾ration. (2) The subsequent declaration or declarations may be made by indorsement on the policy, or in other customary manner. (3) Unless the policy otherwise provides, the declarations must be made in the order of dispatch or shipment. They must, in the case of goods, comprise all consignments within the terms of the policy, and the value of the goods or other property must be honestly stated, but an omission or erroneous declaration may be rectified even after loss or arrival, provided the omission or declaration was made in good faith. (4) Unless the policy otherwise provides, where a declaration of value is not made until after notice of loss or arrival, the policy must be treated as an unvalued policy as re￾gards the subject-matter of that declaration. 30 Construction of terms in policy (1) A policy may be in the form in the First Schedule to this Act. (2) Subject to the provisions of this Act, and unless the context of the policy otherwise requires, the terms and expressions mentioned in the First Schedule to this Act shall be construed as having the scope and meaning in that schedule assigned to them. 31 Premium to be arranged (1) Where an insurance is effected at a premium to be arranged, and no arrangement is made, a reasonable premium is payable. (2) Where an insurance is effected on the terms that an additional premium is to be ar￾ranged in a given event, and that event happens but no arrangement is made, then a reasonable additional premium is payable. Double Insurance 32 Double insurance (1) Where two or more policies are effected by or on behalf of the assured on the same adventure and interest or any part thereof, and the sums insured exceed the indemnity allowed by this Act, the assured is said to be over-insured by double insurance. (2) Where the assured is over-insured by double insurance— (a) The assured, unless the policy otherwise provides, may claim payment from the

Attachment C insurers in such order as he may think fit, provided that he is not entitled to receive any sum in excess of the indemnity allowed by this Act; (b) Where the policy under which the assured claims is a valued policy, the assured must give credit as against the valuation for any sum received by him under any other policy without regard to the actual value of the subject-matter insured; (c) Where the policy under which the assured claims is an unvalued policy he must give credit, as against the full insurable value, for any sum received by him under any other policy; (d) Where the assured receives any sum in excess of the indemnity allowed by this Act, he is deemed to hold such sum in trust for the insurers, according to their right of contribution among themselves. Warranties, etc 33 Nature of warranty (1) A warranty, in the following sections relating to warranties, means a promissory war￾ranty, that is to say, a warranty by which the assured undertakes that some particular thing shall or shall not be done, or that some condition shall be fulfilled, or whereby he affirms or negatives the existence of a particular state of facts. (2) A warranty may be express or implied. (3) A warranty, as above defined, is a condition which must be exactly complied with, whether it be material to the risk or not. If it be not so complied with, then, subject to any express provision in the policy, the insurer is discharged from liability as from the date of the breach of warranty, but without prejudice to any liability incurred by him before that date. 34 When breach of warranty excused (1) Non-compliance with a warranty is excused when, by reason of a change of circum￾stances, the warranty ceases to be applicable to the circumstances of the contract, or when compliance with the warranty is rendered unlawful by any subsequent law. (2) Where a warranty is broken, the assured cannot avail himself of the defence that the breach has been remedied, and the warranty complied with, before loss. (3) A breach of warranty may be waived by the insurer. 35 Express warranties (1) An express warranty may be in any form of words from which the intention to warrant is to be inferred.

Attachment C
(2) An express warranty must be included in, or written upon, the policy, or must be con￾tained in some document incorporated by reference into the policy. (3) An express warranty does not exclude an implied warranty, unless it be inconsistent therewith. 36 Warranty of neutrality (1) Where insurable property, whether ship or goods, is expressly warranted neutral, there is an implied condition that the property shall have a neutral character at the com￾mencement of the risk, and that, so far as the assured can control the matter, its neutral character shall be preserved during the risk. (2) Where a ship is expressly warranted “neutral” there is also an implied condition that, so far as the assured can control the matter, she shall be properly documented, that is to say, that she shall carry the necessary papers to establish her neutrality, and that she shall not falsify or suppress her papers, or use simulated papers. If any loss occurs through breach of this condition, the insurer may avoid the contract. 37 No implied warranty of nationality There is no implied warranty as to the nationality of a ship, or that her nationality shall not be changed during the risk. 38 Warranty of good safety Where the subject-matter insured is warranted “well” or “in good safety” on a particular day, it is sufficient if it be safe at any time during that day. 39 Warranty of seaworthiness of ship (1) In a voyage policy there is an implied warranty that at the commencement of the voyage the ship shall be seaworthy for the purpose of the particular adventure insured. (2) Where the policy attaches while the ship is in port, there is also an implied warranty that she shall, at the commencement of the risk, be reasonably fit to encounter the ordinary perils of the port. (3) Where the policy relates to a voyage which is performed in different stages, during which the ship requires different kinds of or further preparation or equipment, there is an implied warranty that at the commencement of each stage the ship is seaworthy in respect of such preparation or equipment for the purposes of that stage. (4) A ship is deemed to be seaworthy when she is reasonably fit in all respects to encoun￾ter the ordinary perils of the seas of the adventure insured. (5) In a time policy there is no implied warranty that the ship shall be seaworthy at any stage of the adventure, but where, with the privity of the assured, the ship is sent to

Attachment C sea in an unseaworthy state, the insurer is not liable for any loss attributable to unsea￾worthiness. 40 No implied warranty that goods are seaworthy (1) In a policy on goods or other moveables there is no implied warranty that the goods or moveables are seaworthy. (2) In a voyage policy on goods or other moveables there is an implied warranty that at the commencement of the voyage the ship is not only seaworthy as a ship, but also that she is reasonably fit to carry the goods or other moveables to the destination contem￾plated by the policy. 41 Warranty of legality There is an implied warranty that the adventure insured is a lawful one, and that, so far as the assured can control the matter, the adventure shall be carried out in a lawful manner. The Voyage 42 Implied condition as to commencement of risk (1) Where the subject-matter is insured by a voyage policy “at and from” or “from” a par￾ticular place, it is not necessary that the ship should be at that place when the contract is concluded, but there is an implied condition that the adventure shall be commenced within a reasonable time, and that if the adventure be not so commenced the insurer may avoid the contract. (2) The implied condition may be negatived by showing that the delay was caused by cir￾cumstances known to the insurer before the contract was concluded, or by showing that he waived the condition. 43 Alteration of port of departure Where the place of departure is specified by the policy, and the ship instead of sailing from that place sails from any other place, the risk does not attach. 44 Sailing for different destination Where the destination is specified in the policy, and the ship, instead of sailing for that destination, sails for any other destination, the risk does not attach. 45 Change of voyage

Attachment C
(1) Where, after the commencement of the risk, the destination of the ship is voluntarily changed from the destination contemplated by the policy, there is said to be a change of voyage. (2) Unless the policy otherwise provides, where there is a change of voyage, the insurer is discharged from liability as from the time of change, that is to say, as from the time when the determination to change it is manifested; and it is immaterial that the ship may not in fact have left the course of voyage contemplated by the policy when the loss occurs. 46 Deviation (1) Where a ship, without lawful excuse, deviates from the voyage contemplated by the policy, the insurer is discharged from liability as from the time of deviation, and it is immaterial that the ship may have regained her route before any loss occurs. (2) There is a deviation from the voyage contemplated by the policy— (a) Where the course of the voyage is specifically designated by the policy, and that course is departed from; or (b) Where the course of the voyage is not specifically designated by the policy, but the usual and customary course is departed from. (3) The intention to deviate is immaterial; there must be a deviation in fact to discharge the insurer from his liability under the contract. 47 Several ports of discharge (1) Where several ports of discharge are specified by the policy, the ship may proceed to all or any of them, but, in the absence of any usage or sufficient cause to the contrary, she must proceed to them, or such of them as she goes to, in the order designated by the policy. If she does not there is a deviation. (2) Where the policy is to “ports of discharge”, within a given area, which are not named, the ship must, in the absence of any usage or sufficient cause to the contrary, proceed to them, or such of them as she goes to, in their geographical order. If she does not there is a deviation. 48 Delay in voyage In the case of a voyage policy, the adventure insured must be prosecuted throughout its course with reasonable dispatch, and, if without lawful excuse it is not so prose￾cuted, the insurer is discharged from liability as from the time when the delay became unreasonable. 49 Excuses for deviation or delay

Attachment C
(1) Deviation or delay in prosecuting the voyage contemplated by the policy is excused— (a) Where authorised by any special term in the policy; or (b) Where caused by circumstances beyond the control of the master and his em￾ployer; or (c) Where reasonably necessary in order to comply with an express or implied war￾ranty; or (d) Where reasonably necessary for the safety of the ship or subject-matter in￾sured; or (e) For the purpose of saving human life, or aiding a ship in distress where human life may be in danger; or (f) Where reasonably necessary for the purpose of obtaining medical or surgical aid for any person on board the ship; or (g) Where caused by the barratrous conduct of the master or crew, if barratry be one of the perils insured against. (2) When the cause excusing the deviation or delay ceases to operate, the ship must re￾sume her course, and prosecute her voyage, with reasonable dispatch. Assignment of Policy 50 When and how policy is assignable (1) A marine policy is assignable unless it contains terms expressly prohibiting assignment. It may be assigned either before or after loss. (2) Where a marine policy has been assigned so as to pass the beneficial interest in such policy, the assignee of the policy is entitled to sue thereon in his own name; and the defendant is entitled to make any defence arising out of the contract which he would have been entitled to make if the action had been brought in the name of the person by or on behalf of whom the policy was effected. (3) A marine policy may be assigned by indorsement thereon or in other customary man￾ner. 51 Assured who has no interest cannot assign

Attachment C
Where the assured has parted with or lost his interest in the subject-matter insured, and has not, before or at the time of so doing, expressly or impliedly agreed to assign the policy, any subsequent assignment of the policy is inoperative:
Provided that nothing in this section affects the assignment of a policy after loss. The Premium 52 When premium payable Unless otherwise agreed, the duty of the assured or his agent to pay the premium, and the duty of the insurer to issue the policy to the assured or his agent, are concurrent conditions, and the insurer is not bound to issue the policy until payment or tender of the premium. 53 Policy effected through broker (1) Unless otherwise agreed, where a marine policy is effected on behalf of the assured by a broker, the broker is directly responsible to the insurer for the premium, and the in￾surer is directly responsible to the assured for the amount which may be payable in respect of losses, or in respect of returnable premium. (2) Unless otherwise agreed, the broker has, as against the assured, a lien upon the policy for the amount of the premium and his charges in respect of effecting the policy; and, where he has dealt with the person who employs him as a principal, he has also a lien on the policy in respect of any balance on any insurance account which may be due to him from such person, unless when the debt was incurred he had reason to believe that such person was only an agent. 54 Effect of receipt on policy Where a marine policy effected on behalf of the assured by a broker acknowledges the receipt of the premium, such acknowledgment is, in the absence of fraud, conclusive as between the insurer and the assured, but not as between the insurer and broker. Loss and Abandonment 55 Included and excluded losses (1) Subject to the provisions of this Act, and unless the policy otherwise provides, the in￾surer is liable for any loss proximately caused by a peril insured against, but, subject as aforesaid, he is not liable for any loss which is not proximately caused by a peril insured against. (2) In particular—

Attachment C
(a) The insurer is not liable for any loss attributable to the wilful misconduct of the assured, but, unless the policy otherwise provides, he is liable for any loss proximately caused by a peril insured against, even though the loss would not have happened but for the misconduct or negligence of the master or crew; (b) Unless the policy otherwise provides, the insurer on ship or goods is not liable for any loss proximately caused by delay, although the delay be caused by a peril insured against; (c) Unless the policy otherwise provides, the insurer is not liable for ordinary wear and tear, ordinary leakage and breakage, inherent vice or nature of the sub￾ject-matter insured, or for any loss proximately caused by rats or vermin, or for any injury to machinery not proximately caused by maritime perils. 56 Partial and total loss (1) A loss may be either total or partial. Any loss other than a total loss, as herein-after defined, is a partial loss. (2) A total loss may be either an actual total loss, or a constructive total loss. (3) Unless a different intention appears from the terms of the policy, an insurance against total loss includes a constructive, as well as an actual, total loss. (4) Where the assured brings an action for a total loss and the evidence proves only a partial loss, he may, unless the policy otherwise provides, recover for a partial loss. (5) Where goods reach their destination in specie, but by reason of obliteration of marks, or otherwise, they are incapable of identification, the loss, if any, is partial, and not total. 57 Actual total loss (1) Where the subject-matter insured is destroyed, or so damaged as to cease to be a thing of the kind insured, or where the assured is irretrievably deprived thereof, there is an actual total loss. (2) In the case of an actual total loss no notice of abandonment need be given. 58 Missing ship Where the ship concerned in the adventure is missing, and after the lapse of a reason￾able time no news of her has been received, an actual total loss may be presumed. 59 Effect of transhipment, etc Where, by a peril insured against, the voyage is interrupted at an intermediate port or place, under such circumstances as, apart from any special stipulation in the contract of affreightment, to justify the master in landing and re-shipping the goods or other

Attachment C moveables, or in transhipping them, and sending them on to their destination, the lia￾bility of the insurer continues, notwithstanding the landing or transhipment. 60 Constructive total loss defined (1) Subject to any express provision in the policy, there is a constructive total loss where the subject-matter insured is reasonably abandoned on account of its actual total loss appearing to be unavoidable, or because it could not be preserved from actual total loss without an expenditure which would exceed its value when the expenditure had been incurred. (2) In particular, there is a constructive total loss— (i) Where the assured is deprived of the possession of his ship or goods by a peril insured against, and (a) it is unlikely that he can recover the ship or goods, as the case may be, or (b) the cost of recovering the ship or goods, as the case may be, would exceed their value when recovered; or (ii) In the case of damage to a ship, where she is so damaged by a peril insured against that the cost of repairing the damage would exceed the value of the ship when repaired. In estimating the cost of repairs, no deduction is to be made in respect of gen￾eral average contributions to those repairs payable by other interests, but ac￾count is to be taken of the expense of future salvage operations and of any future general average contributions to which the ship would be liable if re￾paired; or (iii) In the case of damage to goods, where the cost of repairing the damage and forwarding the goods to their destination would exceed their value on arrival. 61 Effect of constructive total loss Where there is a constructive total loss the assured may either treat the loss as a partial loss, or abandon the subject-matter insured to the insurer and treat the loss as if it were an actual total loss. 62 Notice of abandonment (1) Subject to the provisions of this section, where the assured elects to abandon the sub￾ject-matter insured to the insurer, he must give notice of abandonment. If he fails to do so the loss can only be treated as a partial loss. (2) Notice of abandonment may be given in writing, or by word of mouth, or partly in writing and partly by word of mouth, and may be given in terms which indicate the intention of

Attachment C the assured to abandon his insured interest in the subject-matter insured uncondition￾ally to the insurer. (3) Notice of abandonment must be given with reasonable diligence after the receipt of reliable information of the loss, but where the information is of a doubtful character the assured is entitled to a reasonable time to make inquiry. (4) Where notice of abandonment is properly given, the rights of the assured are not prej￾udiced by the fact that the insurer refuses to accept the abandonment. (5) The acceptance of an abandonment may be either express or implied from the conduct of the insurer. The mere silence of the insurer after notice is not an acceptance. (6) Where a notice of abandonment is accepted the abandonment is irrevocable. The ac￾ceptance of the notice conclusively admits liability for the loss and the sufficiency of the notice. (7) Notice of abandonment is unnecessary where, at the time when the assured receives information of the loss, there would be no possibility of benefit to the insurer if notice were given to him. (8) Notice of abandonment may be waived by the insurer. (9) Where an insurer has re-insured his risk, no notice of abandonment need be given by him. 63 Effect of abandonment (1) Where there is a valid abandonment the insurer is entitled to take over the interest of the assured in whatever may remain of the subject-matter insured, and all proprietary rights incidental thereto. (2) Upon the abandonment of a ship, the insurer thereof is entitled to any freight in course of being earned, and which is earned by her subsequent to the casualty causing the loss, less the expenses of earning it incurred after the casualty; and, where the ship is carrying the owner’s goods, the insurer is entitled to a reasonable remuneration for the carriage of them subsequent to the casualty causing the loss. Partial Losses (including Salvage and General Average and Particular Charges) 64 Particular average loss (1) A particular average loss is a partial loss of the subject-matter insured, caused by a peril insured against, and which is not a general average loss. (2) Expenses incurred by or on behalf of the assured for the safety or preservation of the

Attachment C subject-matter insured, other than general average and salvage charges, are called particular charges. Particular charges are not included in particular average. 65 Salvage charges (1) Subject to any express provision in the policy, salvage charges incurred in preventing a loss by perils insured against may be recovered as a loss by those perils. (2) “Salvage charges” means the charges recoverable under maritime law by a salvor in￾dependently of contract. They do not include the expenses of services in the nature of salvage rendered by the assured or his agents, or any person employed for hire by them, for the purpose of averting a peril insured against. Such expenses, where properly incurred, may be recovered as particular charges or as a general average loss, according to the circumstances under which they were incurred. 66 General average loss (1) A general average loss is a loss caused by or directly consequential on a general av￾erage act. It includes a general average expenditure as well as a general average sac￾rifice. (2) There is a general average act where any extraordinary sacrifice or expenditure is vol￾untarily and reasonably made or incurred in time of peril for the purpose of preserving the property imperilled in the common adventure. (3) Where there is a general average loss, the party on whom it falls is entitled, subject to the conditions imposed by maritime law, to a rateable contribution from the other parties interested, and such contribution is called a general average contribution. (4) Subject to any express provision in the policy, where the assured has incurred a gen￾eral average expenditure, he may recover from the insurer in respect of the proportion of the loss which falls upon him; and, in the case of a general average sacrifice, he may recover from the insurer in respect of the whole loss without having enforced his right of contribution from the other parties liable to contribute. (5) Subject to any express provision in the policy, where the assured has paid, or is liable to pay, a general average contribution in respect of the subject insured, he may recover therefor from the insurer. (6) In the absence of express stipulation, the insurer is not liable for any general average loss or contribution where the loss was not incurred for the purpose of avoiding, or in connexion with the avoidance of, a peril insured against. (7) Where ship, freight, and cargo, or any two of those interests, are owned by the same assured, the liability of the insurer in respect of general average losses or contributions is to be determined as if those subjects were owned by different persons.

Attachment C
Measure of Indemnity
67 Extent of liability of insurer for loss
(1) The sum which the assured can recover in respect of a loss on a policy by which he is insured, in the case of an unvalued policy to the full extent of the insurable value, or, in the case of a valued policy to the full extent of the value fixed by the policy, is called the measure of indemnity. (2) Where there is a loss recoverable under the policy, the insurer, or each insurer if there be more than one, is liable for such proportion of the measure of indemnity as the amount of his subscription bears to the value fixed by the policy in the case of a valued policy, or to the insurable value in the case of an unvalued policy. 68 Total loss Subject to the provisions of this Act and to any express provision in the policy, where there is a total loss of the subject-matter insured,— (1) If the policy be a valued policy, the measure of indemnity is the sum fixed by the policy. (2) If the policy be an unvalued policy, the measure of indemnity is the insurable value of the subject-matter insured. 69 Partial loss of ship Where a ship is damaged, but is not totally lost, the measure of indemnity, subject to any express provision in the policy, is as follows— (1) Where the ship has been repaired, the assured is entitled to the reasonable cost of the repairs, less the customary deductions, but not exceeding the sum insured in respect of any one casualty. (2) Where the ship has been only partially repaired, the assured is entitled to the reason￾able cost of such repairs, computed as above, and also to be indemnified for the rea￾sonable depreciation, if any, arising from the unrepaired damage, provided that the aggregate amount shall not exceed the cost of repairing the whole damage, computed as above. (3) Where the ship has not been repaired, and has not been sold in her damaged state during the risk, the assured is entitled to be indemnified for the reasonable depreciation arising from the unrepaired damage, but not exceeding the reasonable cost of repairing such damage, computed as above. 70 Partial loss of freight

Attachment C
Subject to any express provision in the policy, where there is a partial loss of freight, the measure of indemnity is such proportion of the sum fixed by the policy in the case of a valued policy, or of the insurable value in the case of an unvalued policy, as the proportion of freight lost by the assured bears to the whole freight at the risk of the assured under the policy. 71 Partial loss of goods, merchandise, etc Where there is a partial loss of goods, merchandise, or other moveables, the measure of indemnity, subject to any express provision in the policy, is as follows— (1) Where part of the goods, merchandise or other moveables insured by a valued policy is totally lost, the measure of indemnity is such proportion of the sum fixed by the policy as the insurable value of the part lost bears to the insurable value of the whole, ascer￾tained as in the case of an unvalued policy. (2) Where part of the goods, merchandise, or other moveables insured by an unvalued policy is totally lost, the measure of indemnity is the insurable value of the part lost, ascertained as in case of total loss. (3) Where the whole or any part of the goods or merchandise insured has been delivered damaged at its destination, the measure of indemnity is such proportion of the sum fixed by the policy in the case of a valued policy, or of the insurable value in the case of an unvalued policy, as the difference between the gross sound and damaged values at the place of arrival bears to the gross sound value. (4) “Gross value” means the wholesale price or, if there be no such price, the estimated value, with, in either case, freight, landing charges, and duty paid beforehand; provided that, in the case of goods or merchandise customarily sold in bond, the bonded price is deemed to be the gross value. “Gross proceeds” means the actual price obtained at a sale where all charges on sale are paid by the sellers. 72 Apportionment of valuation (1) Where different species of property are insured under a single valuation, the valuation must be apportioned over the different species in proportion to their respective insura￾ble values, as in the case of an unvalued policy. The insured value of any part of a species is such proportion of the total insured value of the same as the insurable value of the part bears to the insurable value of the whole, ascertained in both cases as provided by this Act. (2) Where a valuation has to be apportioned, and particulars of the prime cost of each separate species, quality, or description of goods cannot be ascertained, the division of the valuation may be made over the net arrived sound values of the different species, qualities, or descriptions of goods. 73 General average contributions and salvage charges

Attachment C
(1) Subject to any express provision in the policy, where the assured has paid, or is liable for, any general average contribution, the measure of indemnity is the full amount of such contribution, if the subject-matter liable to contribution is insured for its full con￾tributory value; but, if such subject-matter be not insured for its full contributory value, or if only part of it be insured, the indemnity payable by the insurer must be reduced in proportion to the under insurance, and where there has been a particular average loss which constitutes a deduction from the contributory value, and for which the insurer is liable, that amount must be deducted from the insured value in order to ascertain what the insurer is liable to contribute. (2) Where the insurer is liable for salvage charges the extent of his liability must be deter￾mined on the like principle. 74 Liabilities to third parties Where the assured has effected an insurance in express terms against any liability to a third party, the measure of indemnity, subject to any express provision in the policy, is the amount paid or payable by him to such third party in respect of such liability. 75 General provisions as to measure of indemnity (1) Where there has been a loss in respect of any subject-matter not expressly provided for in the foregoing provisions of this Act, the measure of indemnity shall be ascer￾tained, as nearly as may be, in accordance with those provisions, in so far as applicable to the particular case. (2) Nothing in the provisions of this Act relating to the measure of indemnity shall affect the rules relating to double insurance, or prohibit the insurer from disproving interest wholly or in part, or from showing that at the time of the loss the whole or any part of the subject-matter insured was not at risk under the policy. 76 Particular average warranties (1) Where the subject-matter insured is warranted free from particular average, the as￾sured cannot recover for a loss of part, other than a loss incurred by a general average sacrifice unless the contract contained in the policy be apportionable; but, if the contract be apportionable, the assured may recover for a total loss of any apportionable part. (2) Where the subject-matter insured is warranted free from particular average, either wholly or under a certain percentage, the insurer is nevertheless liable for salvage charges, and for particular charges and other expenses properly incurred pursuant to the provisions of the suing and labouring clause in order to avert a loss insured against. (3) Unless the policy otherwise provides, where the subject-matter insured is warranted free from particular average under a specified percentage, a general average loss can￾not be added to a particular average loss to make up the specified percentage. (4) For the purpose of ascertaining whether the specified percentage has been reached,

Attachment C regard shall be had only to the actual loss suffered by the subject-matter insured. Par￾ticular charges and the expenses of and incidental to ascertaining and proving the loss must be excluded. 77 Successive losses (1) Unless the policy otherwise provides, and subject to the provisions of this Act, the in￾surer is liable for successive losses, even though the total amount of such losses may exceed the sum insured. (2) Where, under the same policy, a partial loss, which has not been repaired or otherwise made good, is followed by a total loss, the assured can only recover in respect of the total loss:
Provided that nothing in this section shall affect the liability of the insurer under the suing and labouring clause. 78 Suing and labouring clause (1) Where the policy contains a suing and labouring clause, the engagement thereby en￾tered into is deemed to be supplementary to the contract of insurance, and the assured may recover from the insurer any expenses properly incurred pursuant to the clause, notwithstanding that the insurer may have paid for a total loss, or that the subject-matter may have been warranted free from particular average, either wholly or under a certain percentage. (2) General average losses and contributions and salvage charges, as defined by this Act, are not recoverable under the suing and labouring clause. (3) Expenses incurred for the purpose of averting or diminishing any loss not covered by the policy are not recoverable under the suing and labouring clause. (4) It is the duty of the assured and his agents, in all cases, to take such measures as may be reasonable for the purpose of averting or minimising a loss. Rights of Insurer on Payment 79 Right of subrogation (1) Where the insurer pays for a total loss, either of the whole, or in the case of goods of any apportionable part, of the subject-matter insured, he thereupon becomes entitled to take over the interest of the assured in whatever may remain of the subject-matter so paid for, and he is thereby subrogated to all the rights and remedies of the assured in and in respect of that subject-matter as from the time of the casualty causing the loss.

Attachment C
(2) Subject to the foregoing provisions, where the insurer pays for a partial loss, he ac￾quires no title to the subject-matter insured, or such part of it as may remain, but he is thereupon subrogated to all rights and remedies of the assured in and in respect of the subject-matter insured as from the time of the casualty causing the loss, in so far as the assured has been indemnified, according to this Act, by such payment for the loss. 80 Right of contribution (1) Where the assured is over-insured by double insurance, each insurer is bound, as be￾tween himself and the other insurers, to contribute rateably to the loss in proportion to the amount for which he is liable under his contract. (2) If any insurer pays more than his proportion of the loss, he is entitled to maintain an action for contribution against the other insurers, and is entitled to the like remedies as a surety who has paid more than his proportion of the debt. 81 Effect of under insurance Where the assured is insured for an amount less than the insurable value or, in the case of a valued policy, for an amount less than the policy valuation, he is deemed to be his own insurer in respect of the uninsured balance. Return of Premium 82 Enforcement of return Where the premium or a proportionate part thereof is, by this Act, declared to be re￾turnable,— (a) If already paid, it may be recovered by the assured from the insurer; and (b) If unpaid, it may be retained by the assured or his agent. 83 Return by agreement Where the policy contains a stipulation for the return of the premium, or a proportionate
part thereof, on the happening of a certain event, and that event happens, the premium,
or, as the case may be, the proportionate part thereof, is thereupon returnable to the assured. 84 Return for failure of consideration (1) Where the consideration for the payment of the premium totally fails, and there has been no fraud or illegality on the part of the assured or his agents, the premium is thereupon returnable to the assured.

Attachment C
(2) Where the consideration for the payment of the premium is apportionable and there is a total failure of any apportionable part of the consideration, a proportionate part of the premium is, under the like conditions, thereupon returnable to the assured. (3) In particular— (a) Where the policy is void, or is avoided by the insurer as from the commence￾ment of the risk, the premium is returnable, provided that there has been no fraud or illegality on the part of the assured; but if the risk is not apportionable, and has once attached, the premium is not returnable; (b) Where the subject-matter insured, or part thereof, has never been imperilled, the premium, or, as the case may be, a proportionate part thereof, is returna￾ble, Provided that where the subject-matter has been insured “lost or not lost” and has arrived in safety at the time when the contract is concluded, the premium is not returnable unless, at such time, the insurer knew of the safe arrival. (c) Where the assured has no insurable interest throughout the currency of the risk, the premium is returnable, provided that this rule does not apply to a pol￾icy effected by way of gaming or wagering; (d) Where the assured has a defeasible interest which is terminated during the currency of the risk, the premium is not returnable; (e) Where the assured has over-insured under an unvalued policy, a proportion￾ate part of the premium is returnable; (f) Subject to the foregoing provisions, where the assured has over-insured by double insurance, a proportionate part of the several premiums is returnable, Provided that, if the policies are effected at different times, and any earlier policy has at any time borne the entire risk, or if a claim has been paid on the policy in respect of the full sum insured thereby, no premium is returnable in respect of that policy, and when the double insurance is effected knowingly by the assured no premium is returnable. Mutual Insurance 85 Modification of Act in case of mutual insurance (1) Where two or more persons mutually agree to insure each other against marine losses there is said to be a mutual insurance. (2) The provisions of this Act relating to the premium do not apply to mutual insurance, but a guarantee, or such other arrangement as may be agreed upon, may be substituted for the premium.

Attachment C
(3) The provisions of this Act, in so far as they may be modified by the agreement of the parties, may in the case of mutual insurance be modified by the terms of the policies issued by the association, or by the rules and regulations of the association. (4) Subject to the exceptions mentioned in this section, the provisions of this Act apply to a mutual insurance. Supplemental 86 Ratification by assured Where a contract of marine insurance is in good faith effected by one person on behalf of another, the person on whose behalf it is effected may ratify the contract even after he is aware of a loss. 87 Implied obligations varied by agreement or usage (1) Where any right, duty, or liability would arise under a contract of marine insurance by implication of law, it may be negatived or varied by express agreement, or by usage, if the usage be such as to bind both parties to the contract. (2) The provisions of this section extend to any right, duty, or liability declared by this Act which may be lawfully modified by agreement. 88 Reasonable time, etc, a question of fact Where by this Act any reference is made to reasonable time, reasonable premium, or reasonable diligence, the question what is reasonable is a question of fact. 89 Slip as evidence Where there is a duly stamped policy, reference may be made, as heretofore, to the slip or covering note, in any legal proceeding. 90 Interpretation of terms In this Act, unless the context or subject-matter otherwise requires— “Action” includes counter-claim and set off; “Freight” includes the profit derivable by a shipowner from the employment of his ship to carry his own goods or moveables, as well as freight payable by a third party, but does not include passage money; “Moveables” means any moveable tangible property, other than the ship, and includes money, valuable securities, and other documents:
“Policy” means a marine policy.

Attachment C
91 Savings
(1) Nothing in this Act shall affect the provisions of the Companies Regulations 2015, or any enactment amending or substituted for the same. (2) The rules of the common law including the law merchant, save in so far as they are inconsistent with the express provisions of this Act, shall continue to apply to contracts of marine insurance. 94 Short title This Act may be cited as the Marine Insurance Act 1906.

Attachment C
SCHEDULE 1
Section 30
FORM OF POLICY
BE IT KNOWN THAT .. .. .. .. as well in .. .. .. .. own name as for and in the name and names of all and every other person or persons to whom the same doth, may, or shall appertain, in
part or in all doth make assurance and cause .. .... .. and them, and every of them, to be insured
lost or not lost, at and from .. .. .. ..
Upon any kind of goods and merchandise, and also upon the body, tackle, apparel, ordnance, munition, artillery, boat, and other furniture, of and in the good ship or vessel called the .. .. .. .. whereof is master under God, for this present voyage, .. .. .. .. or whosoever else shall go for master in the said ship, or by whatsoever other name or names the said ship, or the master thereof, is or shall be named or called; beginning the adventure upon the said goods and mer￾chandises from the loading thereof aboard the said ship. upon the said ship, etc and so shall continue and endure, during her abode there, upon the said ship, etc And further, until the said ship, with all her ordnance, tackle, apparel, etc, and goods and merchandises whatsoever shall be arrived at .. .. .. .. upon the said ship, etc, until she hath moored at anchor twenty-four hours in good safety; and upon the goods and merchandises, until the same be there discharged and safely landed. And it shall be lawful for the said ship, etc, in this voyage to proceed and sail to and touch and stay at any ports or places whatsoever without prejudice to this insurance. The said ship, etc, goods and merchandises, etc, for so much as concerns the assured by agreement between the assured and assurers in this policy, are and shall be valued at .. .. .. .. Touching the adventures and perils which we the assurers are contented to bear and do take upon us in this voyage: they are of the seas, men of war, fire, enemies, pirates, rovers, thieves, jettisons, letters of mart and countermart, surprisals, takings at sea, arrests, restraints, and detainments of all kings, princes, and people, of what nation, condition, or quality soever, bar￾ratry of the master and mariners, and of all other perils, losses, and misfortunes, that have or shall come to the hurt, detriment, or damage of the said goods and merchandises, and ship, etc, or any part thereof. And in case of any loss or misfortune it shall be lawful to the assured, their factors, servants and assigns, to sue, labour, and travel for, in and about the defence, safeguards, and recovery of the said goods and merchandises, and ship, etc, or any part thereof, without prejudice to this insurance; to the charges whereof we, the assurers, will con￾tribute each one according to the rate and quantity of his sum herein assured. And it is espe￾cially declared and agreed that no acts of the insurer or insured in recovering, saving, or pre￾serving the property insured shall be considered as a waiver, or acceptance of abandonment.

Attachment C
And so we, the assurers, are contented, and do hereby promise and bind ourselves, each one for his own part, our heirs, executors, and goods to the assured, their executors, administra￾tors, and assigns, for the true performance of the premises, confessing ourselves paid the consideration due unto us for this assurance by the assured, at and after the rate of .. .. .. .. .. IN WITNESS whereof we, the assurers, have subscribed our names and sums assured in ………. N.B.—Corn, fish, salt, fruit, flour, and seed are warranted free from average, unless general, or the ship be stranded—sugar, tobacco, hemp, flax, hides and skins are warranted free from average, under five pounds per cent., and all other goods, also the ship and freight, are war￾ranted free from average, under three pounds per cent. unless general, or the ship be stranded. RULES FOR CONSTRUCTION OF POLICY The following are the rules referred to by this Act for the construction of a policy in the above or other like form, where the context does not otherwise require:— Where the subject-matter is insured “lost or not lost,” and the loss has occurred before the contract is concluded, the risk attaches, unless at such time the assured was aware of the loss, and the insurer was not. Where the subject-matter is insured “from” a particular place, the risk does not attach until the ship starts on the voyage insured. (a) Where a ship is insured “at and from” a particular place, and she is at that place in good safety when the contract is concluded, the risk attaches immediately. (b) If she be not at that place when the contract is concluded, the risk attaches as soon as she arrives there in good safety, and, unless the policy otherwise provides, it is immaterial that she is covered by another policy for a specified time after arrival. (c) Where chartered freight is insured “at and from” a particular place, and the ship is at that place in good safety when the contract is concluded the risk attaches immedi￾ately. If she be not there when the contract is concluded, the risk attaches as soon as she arrives there in good safety. (d) Where freight, other than chartered freight, is payable without special conditions and is insured “at and from” a particular place, the risk attaches pro rata as the goods or merchandise are shipped; provided that if there be cargo in readiness which belongs to the shipowner, or which some other person has contracted with him to ship, the risk attaches as soon as the ship is ready to receive such cargo.

Attachment C
Where goods or other moveables are insured “from the loading thereof,” the risk does not attach until such goods or moveables are actually on board, and the insurer is not liable for them while in transit from the shore to ship. Where the risk on goods or other moveables continues until they are “safely landed,” they must be landed in the customary manner and within a reasonable time after arrival at the port of discharge, and if they are not so landed the risk ceases. In the absence of any further license or usage, the liberty to touch and stay “at any port or place whatsoever” does not authorise the ship to depart from the course of her voyage from the port of departure to the port of destination. The term “perils of the seas” refers only to fortuitous accidents or casualties of the seas. It does not include the ordinary action of the winds and waves. The term “pirates” includes passengers who mutiny and rioters who attack the ship from the shore. The term “thieves” does not cover clandestine theft or a theft committed by any one of the ship’s company, whether crew or passengers. The term “arrests, etc, of kings, princes, and people” refers to political or executive acts, and does not include a loss caused by riot or by ordinary judicial process. The term “barratry” includes every wrongful act wilfully committed by the master or crew to the prejudice of the owner, or, as the case may be, the charterer. The term “all other perils” includes only perils similar in kind to the perils specifically mentioned in the policy.

Attachment C
The term “average unless general” means a partial loss of the subject-matter insured other than a general average loss, and does not include “particular charges.” Where the ship has stranded, the insurer is liable for the excepted losses, although the loss is not attributable to the stranding, provided that when the stranding takes place the risk has attached and, if the policy be on goods, that the damaged goods are on board. The term “ship” includes the hull, materials and outfit, stores and provisions for the officers and crew, and, in the case of vessels engaged in a special trade, the ordinary fittings requisite for the trade, and also, in the case of a steamship, the machinery, boilers, and coals and engine stores, if owned by the assured. The term “freight” includes the profit derivable by a shipowner from the employment of his ship to carry his own goods or moveables, as well as freight payable by a third party, but does not include passage money. The term “goods” means goods in the nature of merchandise, and does not include personal effects or provisions and stores for use on board. In the absence of any usage to the contrary, deck cargo and living animals must be insured specifically, and not under the general denomination of goods.

---

Limited Partnerships Act 1907
Chapter 24
1 Short title
This Act may be cited for all purposes as the Limited Partnerships Act 1907. 3 Interpretation of terms In the construction of this Act the following words and expressions shall have the meanings respectively assigned to them in this section, unless there be something in the subject or context repugnant to such construction— “Firm,” “firm name,” and “business” have the same meanings as in the Partnership Act 1890; “General partner” shall mean any partner who is not a limited partner as defined by this Act. 4 Definition and constitution of limited partnership (1) Limited partnerships may be formed in the manner and subject to the conditions by this Act provided. (2) A limited partnership must consist of one or more persons called general partners, who shall be liable for all debts and obligations of the firm, and one or more persons to be called limited partners, who may make one or more capital contributions (whether in cash or in kind) to the firm at any time, and who shall not be liable for the debts or obligations of the firm beyond the amount of that limited partner’s capital contributions (if any) (and without recourse to the personal assets of that limited partner other than such capital contributions). (3) Subject to any agreement to the contrary among the partners, where a limited partner has made one or more capital contributions to the firm, that limited partner is entitled to withdraw all or any portion of its capital in the firm at any time. Subject to any agreement to the contrary among the partners and subject to any enactment or rule of law relating to insolvency, a limited partner that withdraws all or a portion of its capital contribution shall have no liability to return the amount so withdrawn to satisfy the debts and obligations of the firm. (4) In the event of a dissolution of a limited partnership — (a) the general partners shall, within one month of the dissolution of the limited partnership, file a notice of dissolution of the limited partnership with the Registrar; (b) if there are no general partners then, subject to any agreement among the partners to the contrary, the limited partners shall, within one month of the dissolution of the limited partnership, file a notice of dissolution of the limited partnership with the Registrar. (5) Upon receipt of the notice of dissolution, the Registrar shall amend the Register so to indicate that the limited partnership has been dissolved; (46) A body corporate may be a limited partner. 5 Registration of limited partnership required

Every limited partnership must be registered as such in accordance with the provisions of this Act. 6 Modifications of general law in case of limited partnerships (1) A limited partner shall not take part in the management of the partnership business, and shall not have power to bind the firm, Provided that a limited partner may by himself or his agent at any time inspect the books of the firm and examine into the state and prospects of the partnership business, and may advise with the partners thereon. If a limited partner takes part in the management of the partnership business he shall be liable for all debts and obligations of the firm incurred while he so takes part in the management as though he were a general partner. (2) A limited partnership shall not be dissolved by the death or bankruptcy of a limited partner, and the lunacy of a limited partner shall not be a ground for dissolution of the partnership by the court unless the lunatic’s share cannot be otherwise ascertained and realised. (3) In the event of a dissolution of a limited partnership, and subject to any order made by the Court providing for a different arrangement or procedure— (a) subject to any agreement among the partners to the contrary, the general partners shall wind up the affairs of the limited partnership or shall appoint a suitably qualified person (which may be a third party) to do so; and (b) if there are no general partners then, subject to any agreement among the partners to the contrary, the limited partners shall wind up the affairs of the limited partnership or shall appoint a suitably qualified person (which may be a third party) to do so. (5) Subject to any agreement expressed or implied between the partners— (a) Any difference arising as to ordinary matters connected with the partnership business may be decided by a majority of the general partners; (b) A limited partner may, with the consent of the general partners, assign his share in the partnership, and upon such an assignment the assignee shall become a limited partner with all the rights of the assignor; (c) The other partners shall not be entitled to dissolve the partnership by reason of any limited partner suffering his share to be charged for his separate debt; (d) A person may be introduced as a partner without the consent of the existing limited partners; (e) A limited partner shall not be entitled to dissolve the partnership by notice. (6) A limited partner shall not be treated as taking part in the management of the partnership business merely by doing one or more of the following— (a) taking part in a decision about the variation of the partnership agreement; (b) taking part in a decision about whether to approve or veto— (i) a type of investment;

(ii) a particular investment by the limited partnership; or (iii) the participation by the relevant limited partner in a particular investment by the limited partnership; (c) taking part in a decision about whether the general nature of the partnership business should change; (d) taking part in a decision about whether to dispose of the partnership business or to acquire another business; (e) taking part in a decision about whether a person should become or cease to be a partner; (f) taking part in a decision about whether the term of the limited partnership should end, and/or whether the limited partnership should be wound up; (g) taking part in a decision about how the limited partnership should be wound up; (h) enforcing his rights under the partnership agreement (unless those rights are to carry out management functions); (i) approving the accounts of a limited partnership; (j) approving the valuation of the limited partnership’s assets; (k) being engaged under a contract by the limited partnership or by a general partner in the limited partnership (unless the contract is to carry out managerial functions); (l) acting in his capacity as a director, member or employee of, or a shareholder in, a general partner or any person appointed to manage or advise the limited partnership in relation to the affairs of the limited partnership; (m) taking part in a decision which involves actual or potential conflicts of interests that affect or relate to the limited partnership or its business or any partner in the limited partnership; (n) discussing the prospects of the partnership business; (o) consulting or advising a general partner, or the general partners, or any person appointed to manage the limited partnership in relation to the affairs of the limited partnership or advising in relation to the activities of the limited partnership or about its accounts (including doing so as a member of an advisory committee of the limited partnership); (p) taking part in any decision regarding any changes in the persons responsible for the day-to-day management of the limited partnership; (q) taking part in any decision authorising any action by or on behalf of the limited partnership that is not otherwise prohibited by the terms of the partnership agreement; and (r) the books of the limited partnership and examining into the state and prospects of the partnership business, and advising partners thereon.

The fact that a limited partner undertakes, or engages in, any activity not expressly referred to above shall not necessarily constitute that limited partner as taking part in the management of the partnership business. 7 Law as to private partnerships to apply where not excluded by this Act Subject to the provisions of this Act, the Partnership Act 1890 and the rules of equity and of common law applicable to partnerships, except so far as they are inconsistent with the express provisions of the last-mentioned Act, shall apply to limited partnerships. Notwithstanding the preceding sentence, and subject to any agreement among the partners to the contrary, limited partners shall not be subject to the duties contained in sections 28 and 30 of the Partnership Act 1890, or subject to equitable and common law duties (if any) of similar effect. 8 Duty to register The registrar shall register a limited partnership if an application is made to the registrar in accordance with section 8A. 8A Application for registration (1) An application for registration must— (a) specify the firm name, complying with section 8B, under which the limited partnership is to be registered; (b) contain the details listed in subsection (2); (c) be signed or otherwise authenticated by or on behalf of each partner; and (d) be made to the registrar. (2) The required details are— (a) the name of each general partner; (b) the address of the proposed principal place of business of the limited partnership; and (c) an election as to whether the limited partnership is to have legal personality (such an election being irrevocable and not subject to change). 8B Name of limited partnership (1) This section sets out conditions which must be satisfied by the firm name of a limited partnership as specified in the application for registration. (2) The name must end with— (a) the words “limited partnership” (upper or lower case, or any combination); or (b) the abbreviation “LP” (upper or lower case, or any combination, with or without punctuation). 8C Certificate of registration (1) On registering a limited partnership the registrar shall issue a certificate of registration. (2) The certificate must be— (a) signed by the registrar; or (b) authenticated with the registrar’s seal.

(3) The certificate must state—
(a) the firm name of the limited partnership given in the application for registration; (b) the limited partnership’s registration number; (c) the date of registration; and (d) that the limited partnership is registered as a limited partnership under this Act. (4) The certificate is conclusive evidence that a limited partnership came into existence on the date of registration. (5) Where the application for registration of a limited partnership includes, in accordance with Section 8A, an election that the limited partnership have legal personality, then the certificate of registration shall specify that the limited partnership has legal personality and the certificate shall be conclusive evidence of such legal personality. 9 Registration of changes in partnerships (1) If during the continuance of a limited partnership any change is made or occurs in— (a) the firm name; (c) the principal place of business; (d) the general partners or the name of any general partner, a statement, signed by the firm, specifying the nature of the change shall within seven days be sent by post or delivered to the registrar. (2) If default is made in compliance with the requirements of this section, the registrar may impose a fine not exceeding level 2 3 on the standard fines scale on each of the general partners. 13 Registrar to file statement and issue certificate of registration On receiving any statement made in pursuance of this Act the registrar shall cause the same to be filed, and he shall provide the firm from whom such statement shall have been received a certificate of the registration thereof. 14 Register and index to be kept (1) The registrar shall keep a register and an index of all the limited partnerships registered as aforesaid, and of all the statements registered in relation to such partnerships. (2) The Registrar shall be empowered to— (a) remove a limited partnership from the register and index, on receipt by the Registrar of an application from the general partners of the limited partnership (or from the former general partners of the limited partnership in the case of a dissolved limited partnership) confirming that the limited partnership is to be removed from the register and index (and where applicable that the limited partnership has been dissolved) by, and in accordance with, the agreement of the partners; (b) remove a limited partnership from the register and index on its own initiative upon or following the dissolution of the limited partnership; (c) make a correction to the register and index in respect of a limited partnership, on receipt by the Registrar of an application from the general partners of that limited partnership or as may be directed by the Court.

(3) In relation to each registered limited partnership, the register and index shall specify whether or not that limited partnership has legal personality. 15 The Registrar (1) The Registrar is the registrar of limited partnerships. (2) In this Act references to the registrar are to be read as references to the Registrar established under the ADGM Founding Law. 16 Inspection of statements registered (1) Any person may inspect the statements filed by the registrar; and any person may require a certificate of the registration of any limited partnership, or a copy of or extract from any registered statement, to be certified by the registrar, in each case for such fee as the registrar may from time to time determine. (2) A certificate of registration or a copy of or extract from any statement registered under this Act, if duly certified to be a true copy under the hand of the registrar (whom it shall not be necessary to prove to be the registrar) shall, in all legal proceedings, and in all cases whatsoever be received in evidence. 17 Power to Board to make rules The Board may make rules concerning any of the following matters— (b) The duties or additional duties to be performed by the registrar for the purposes of this Act; (c) The performance by assistant registrars and other officers of acts by this Act required to be done by the registrar; (d) The forms to be used for the purposes of this Act; (e) Generally, the conduct and regulation of registration under this Act and any matters incidental thereto.

---

Insurance Act 2015
Chapter 4
PART 1
INSURANCE CONTRACTS: MAIN DEFINITIONS

1. Insurance contracts: main definitions
   In this Act—
   “contract of marine insurance” has the same meaning as in the Marine Insurance Act 1906; “insured” means the party to a contract of marine insurance who is the insured under the contract, or would be if the contract were entered into; “insurer” means the party to a contract of marine insurance who is the insurer under the contract, or would be if the contract were entered into; “the duty of fair presentation” means the duty imposed by section 3(1).
   Part 2
   THE DUTY OF FAIR PRESENTATION
   2 Application and interpretation
   (1) This Part applies to contracts of marine insurance only.
   (2) This Part applies in relation to variations of contracts of marine insurance as it applies to contracts, but— (a) references to the risk are to be read as references to changes in the risk relevant to the proposed variation; and (b) references to the contract of marine insurance are to the variation. 3 The duty of fair presentation (1) Before a contract of marine insurance is entered into, the insured must make to the insurer a fair presentation of the risk. (2) The duty imposed by subsection (1) is referred to in this Act as “the duty of fair presentation”. (3) A fair presentation of the risk is one— (a) which makes the disclosure required by subsection (4);

(b) which makes that disclosure in a manner which would be reasonably clear and accessible to a prudent insurer; and (c) in which every material representation as to a matter of fact is substantially correct, and every material representation as to a matter of expectation or belief is made in good faith. (4) The disclosure required is as follows, except as provided in subsection (5)— (a) disclosure of every material circumstance which the insured knows or ought to know; or (b) failing that, disclosure which gives the insurer sufficient information to put a prudent insurer on notice that it needs to make further enquiries for the purpose of revealing those material circumstances. (5) In the absence of enquiry, subsection (4) does not require the insured to disclose a circumstance if— (a) it diminishes the risk; (b) the insurer knows it; (c) the insurer ought to know it; (d) the insurer is presumed to know it; or (e) it is something as to which the insurer waives information. (6) Sections 4 to 6 make further provision about the knowledge of the insured and of the insurer, and section 7 contains supplementary provision. 4 Knowledge of insured (1) This section provides for what an insured knows or ought to know for the purposes of section 3(4)(a). (2) An insured who is an individual knows only— (a) what is known to the individual; and (b) what is known to one or more of the individuals who are responsible for the insured’s insurance. (3) An insured who is not an individual knows only what is known to one or more of the individuals who are— (a) part of the insured’s senior management; or (b) responsible for the insured’s insurance. (4) An insured is not by virtue of subsection (2)(b) or (3)(b) taken to know confidential

information known to an individual if—
(a) the individual is, or is an employee of, the insured’s agent; and (b) the information was acquired by the insured’s agent (or by an employee of that agent) through a business relationship with a person who is not connected with the contract of marine insurance. (5) For the purposes of subsection (4) the persons connected with a contract of marine insurance are— (a) the insured and any other persons for whom cover is provided by the contract; and (b) if the contract re-insures risks covered by another contract, the persons who are (by virtue of this subsection) connected with that other contract. (6) Whether an individual or not, an insured ought to know what should reasonably have been revealed by a reasonable search of information available to the insured (whether the search is conducted by making enquiries or by any other means). (7) In subsection (6) “information” includes information held within the insured’s organisation or by any other person (such as the insured’s agent or a person for whom cover is provided by the contract of marine insurance). (8) For the purposes of this section— (a) “employee”, in relation to the insured’s agent, includes any individual working for the agent, whatever the capacity in which the individual acts; (b) an individual is responsible for the insured’s insurance if the individual participates on behalf of the insured in the process of procuring the insured’s insurance (whether the individual does so as the insured’s employee or agent, as an employee of the insured’s agent or in any other capacity); and (c) “senior management” means those individuals who play significant roles in the making of decisions about how the insured’s activities are to be managed or organised. 5 Knowledge of insurer (1) For the purposes of section 3(5)(b), an insurer knows something only if it is known to one or more of the individuals who participate on behalf of the insurer in the decision whether to take the risk, and if so on what terms (whether the individual does so as the insurer’s employee or agent, as an employee of the insurer’s agent or in any other capacity). (2) For the purposes of section 3(5)(c), an insurer ought to know something only if— (a) an employee or agent of the insurer knows it, and ought reasonably to have passed on the relevant information to an individual mentioned in subsection (1); or

(b) the relevant information is held by the insurer and is readily available to an individual mentioned in subsection (1). (3) For the purposes of section 3(5)(d), an insurer is presumed to know— (a) things which are common knowledge; and (b) things which an insurer offering insurance of the class in question to insureds in the field of activity in question would reasonably be expected to know in the ordinary course of business. 6 Knowledge: general (1) For the purposes of sections 3 to 5, references to an individual’s knowledge include not only actual knowledge, but also matters which the individual suspected, and of which the individual would have had knowledge but for deliberately refraining from confirming them or enquiring about them. (2) Nothing in this Part affects the operation of any rule of law according to which knowledge of a fraud perpetrated by an individual (“F”) either on the insured or on the insurer is not to be attributed to the insured or to the insurer (respectively), where — (a) if the fraud is on the insured, F is any of the individuals mentioned in section 4(2)(b) or (3); or (b) if the fraud is on the insurer, F is any of the individuals mentioned in section 5(1). 7 Supplementary (1) A fair presentation need not be contained in only one document or oral presentation. (2) The term “circumstance” includes any communication made to, or information received by, the insured. (3) A circumstance or representation is material if it would influence the judgement of a prudent insurer in determining whether to take the risk and, if so, on what terms. (4) Examples of things which may be material circumstances are— (a) special or unusual facts relating to the risk; (b) any particular concerns which led the insured to seek insurance cover for the risk; (c) anything which those concerned with the class of insurance and field of activity in question would generally understand as being something that should be dealt with in a fair presentation of risks of the type in question. (5) A material representation is substantially correct if a prudent insurer would not consider the difference between what is represented and what is actually correct to be material.

(6) A representation may be withdrawn or corrected before the contract of marine insurance is entered into. 8 Remedies for breach (1) The insurer has a remedy against the insured for a breach of the duty of fair presentation only if the insurer shows that, but for the breach, the insurer— (a) would not have entered into the contract of marine insurance at all; or (b) would have done so only on different terms. (2) The remedies are set out in Schedule 1. (3) A breach for which the insurer has a remedy against the insured is referred to in this Act as a “qualifying breach”. (4) A qualifying breach is either— (a) deliberate or reckless; or (b) neither deliberate nor reckless. (5) A qualifying breach is deliberate or reckless if the insured— (a) knew that it was in breach of the duty of fair presentation; or (b) did not care whether or not it was in breach of that duty. (6) It is for the insurer to show that a qualifying breach was deliberate or reckless.
PART 3
WARRANTIES AND OTHER TERMS
9 Warranties and representations
(1) This section applies to representations made by the insured in connection with— (a) a proposed contract of marine insurance; or (b) a proposed variation to a contract of marine insurance. (2) Such a representation is not capable of being converted into a warranty by means of any provision of the contract of marine insurance (or of the terms of the variation), or of any other contract (and whether by declaring the representation to form the basis of the contract or otherwise). 10 Breach of warranty

(1) Any rule of law that breach of a warranty (express or implied) in a contract of marine insurance results in the discharge of the insurer’s liability under the contract is abolished. (2) An insurer has no liability under a contract of marine insurance in respect of any loss occurring, or attributable to something happening, after a warranty (express or implied) in the contract has been breached but before the breach has been remedied. (3) But subsection (2) does not apply if— (a) because of a change of circumstances, the warranty ceases to be applicable to the circumstances of the contract; (b) compliance with the warranty is rendered unlawful by any subsequent law; or (c) the insurer waives the breach of warranty. (4) Subsection (2) does not affect the liability of the insurer in respect of losses occurring, or attributable to something happening— (a) before the breach of warranty; or (b) if the breach can be remedied, after it has been remedied. (5) For the purposes of this section, a breach of warranty is to be taken as remedied— (a) in a case falling within subsection (6), if the risk to which the warranty relates later becomes essentially the same as that originally contemplated by the parties; (b) in any other case, if the insured ceases to be in breach of the warranty. (6) A case falls within this subsection if— (a) the warranty in question requires that by an ascertainable time something is to be done (or not done), or a condition is to be fulfilled, or something is (or is not) to be the case; and (b) that requirement is not complied with. (7) In the Marine Insurance Act 1906— (a) in section 33 (nature of warranty), in subsection (3), the second sentence is omitted; (b) section 34 (when breach of warranty excused) is omitted 11 Terms not relevant to the actual loss (1) This section applies to a term (express or implied) of a contract of marine insurance, other than a term defining the risk as a whole, if compliance with it would tend to reduce the risk of one or more of the following—

(a) loss of a particular kind;
(b) loss at a particular location;
(c) loss at a particular time.
(2) If a loss occurs, and the term has not been complied with, the insurer may not rely on the non-compliance to exclude, limit or discharge its liability under the contract for the loss if the insured satisfies subsection (3). (3) The insured satisfies this subsection if it shows that the non-compliance with the term could not have increased the risk of the loss which actually occurred in the circumstances in which it occurred. (4) This section may apply in addition to section 10.
PART 4
FRAUDULENT CLAIMS
12 Remedies for fraudulent claims
(1) If the insured makes a fraudulent claim under a contract of marine insurance— (a) the insurer is not liable to pay the claim; (b) the insurer may recover from the insured any sums paid by the insurer to the insured in respect of the claim; and (c) in addition, the insurer may by notice to the insured treat the contract as having been terminated with effect from the time of the fraudulent act. (2) If the insurer does treat the contract as having been terminated— (a) it may refuse all liability to the insured under the contract in respect of a relevant event occurring after the time of the fraudulent act; and (b) it need not return any of the premiums paid under the contract. (3) Treating a contract as having been terminated under this section does not affect the rights and obligations of the parties to the contract with respect to a relevant event occurring before the time of the fraudulent act. (4) In subsections (2)(a) and (3), “relevant event” refers to whatever gives rise to the insurer’s liability under the contract (and includes, for example, the occurrence of a loss, the making of a claim, or the notification of a potential claim, depending on how the contract is written). 13 Remedies for fraudulent claims: group insurance (1) This section applies where—

(a) a contract of marine insurance is entered into with an insurer by a person (“A”); (b) the contract provides cover for one or more other persons who are not parties to the contract (“the Cs”), whether or not it also provides cover of any kind for A or another insured party; and (c) a fraudulent claim is made under the contract by or on behalf of one of the Cs (“CF”). (2) Section 12 applies in relation to the claim as if the cover provided for CF were provided under an individual insurance contract between the insurer and CF as the insured; and, accordingly— (a) the insurer’s rights under section 12 are exercisable only in relation to the cover provided for CF; and (b) the exercise of any of those rights does not affect the cover provided under the contract for anyone else. (3) In its application by virtue of subsection (2), section 12 is subject to the following particular modifications— (a) the first reference to “the insured” in subsection (1)(b) of that section, in respect of any particular sum paid by the insurer, is to whichever of A and CF the insurer paid the sum to; but if a sum was paid to A and passed on by A to CF, the reference is to CF; (b) the second reference to “the insured” in subsection (1)(b) is to A or CF; (c) the reference to “the insured” in subsection (1)(c) is to both CF and A; (d) the reference in subsection (2)(b) to the premiums paid under the contract is to premiums paid in respect of the cover for CF.
PART 4A
LATE PAYMENT OF CLAIMS
13A Implied term about payment of claims
(1) It is an implied term of every contract of marine insurance that if the insured makes a claim under the contract, the insurer must pay any sums due in respect of the claim within a reasonable time. (2) A reasonable time includes a reasonable time to investigate and assess the claim. (3) What is reasonable will depend on all the relevant circumstances, but the following are examples of things which may need to be taken into account— (a) the type of insurance; (b) the size and complexity of the claim;

(c) compliance with any relevant statutory or regulatory rules or guidance; (d) factors outside the insurer’s control. (4) If the insurer shows that there were reasonable grounds for disputing the claim (whether as to the amount of any sum payable, or as to whether anything at all is payable)— (a) the insurer does not breach the term implied by subsection (1) merely by failing to pay the claim (or the affected part of it) while the dispute is continuing; but (b) the conduct of the insurer in handling the claim may be a relevant factor in deciding whether that term was breached and, if so, when. (5) Remedies (for example, damages) available for breach of the term implied by subsection (1) are in addition to and distinct from— (a) any right to enforce payment of the sums due; and (b) any right to interest on those sums (whether under the contract, under another enactment, at the court’s discretion or otherwise).
PART 5
GOOD FAITH AND CONTRACTING OUT
Good faith
14 Good faith
(1) Any rule of law permitting a party to a contract of marine insurance to avoid the contract on the ground that the utmost good faith has not been observed by the other party is abolished. (2) Any rule of law to the effect that a contract of marine insurance is a contract based on the utmost good faith is modified to the extent required by the provisions of this Act. (3) Accordingly— (a) in section 17 of the Marine Insurance Act 1906 (marine insurance contracts are contracts of the utmost good faith), the words from “, and” to the end are omitted. 16 Contracting out: contracts of marine insurance (1) A term of a contract of marine insurance, or of any other contract, which would put the insured in a worse position as respects representations to which section 9 applies than the insured would be in by virtue of that section is to that extent of no effect. (2) A term of a contract of marine insurance, or of any other contract, which would put the insured in a worse position as respects any of the other matters provided for in Part 2, 3 or

4 of this Act than the insured would be in by virtue of the provisions of those Parts (so far as relating to contracts of marine insurance) is to that extent of no effect, unless the requirements of section 17 have been satisfied in relation to the term. (3) In this section references to a contract include a variation. (4) This section does not apply in relation to a contract for the settlement of a claim arising under a contract of marine insurance. 16A Contracting out of the implied term about payment of claims: contracts of marine insurance (2) A term of a contract of marine insurance, or of any other contract, which would put the insured in a worse position as respects deliberate or reckless breaches of the term implied by section 13A than the insured would be in by virtue of that section is to that extent of no effect. (3) For the purposes of subsection (2) a breach is deliberate or reckless if the insurer— (a) knew that it was in breach; or (b) did not care whether or not it was in breach. (4) A term of a contract of marine insurance, or of any other contract, which would put the insured in a worse position as respects any of the other matters provided for in section 13A than the insured would be in by virtue of the provisions of that section (so far as relating to contracts of marine insurance) is to that extent of no effect, unless the requirements of
section 17 have been satisfied in relation to the term.
(5) In this section references to a contract include a variation.
(6) This section does not apply in relation to a contract for the settlement of a claim arising under an insurance contract. 17 The transparency requirements (1) In this section, “the disadvantageous term” means such a term as is mentioned in section 16(2) or 16A(4). (2) The insurer must take sufficient steps to draw the disadvantageous term to the insured’s attention before the contract is entered into or the variation agreed. (3) The disadvantageous term must be clear and unambiguous as to its effect. (4) In determining whether the requirements of subsections (2) and (3) have been met, the characteristics of insured persons of the kind in question, and the circumstances of the transaction, are to be taken into account. (5) The insured may not rely on any failure on the part of the insurer to meet the requirements of subsection (2) if the insured (or its agent) had actual knowledge of the disadvantageous term when the contract was entered into or the variation agreed.

18 Contracting out: group insurance contracts (1) This section applies to a contract of marine insurance referred to in section 13(1)(a); and in this section— “A” and “the Cs” have the same meaning as in section 13. (3) A term of the contract of marine insurance, or any other contract, which puts a C in a worse position as respects any matter dealt with in section 13 than that person would be in by virtue of that section is to that extent of no effect, unless the requirements of section 17 have been met in relation to the term. (4) Section 17 applies in relation to such a term as it applies to a term mentioned in section 16(2), with references to the insured being read as references to A rather than the C. (5) In this section references to a contract include a variation. (6) This section does not apply in relation to a contract for the settlement of a claim arising under a contract of marine insurance to which this section applies.
PART 7
GENERAL
18 Provision consequential on Part 2
(1) The provision made by this section is consequential on Part 2 of this Act. (2) In the Marine Insurance Act 1906, sections 18 (disclosure by assured), 19 (disclosure by agent effecting insurance) and 20 (representations pending negotiation of contract) are omitted. (3) Any rule of law to the same effect as any of those provisions is abolished. 22 Application etc of Parts 2 to 5 (1) Part 2 (and section 21) and section 14 apply only in relation to— (a) contracts of marine insurance entered into after the end of the relevant period; and (b) variations, agreed after the end of the relevant period, to contracts of marine insurance entered into at any time. (2) Parts 3 and 4 of this Act apply only in relation to contracts of marine insurance entered into after the end of the relevant period, and variations to such contracts. (3) In subsections (1) and (2) “the relevant period” means the period of 18 months beginning with the day on which this Act is passed. (3A) Part 4A applies only in relation to contracts of marine insurance entered into after that Part has come into force, and variations to such contracts.

(4) Unless the contrary intention appears, references in Parts 2 to 5 to something being done by or in relation to the insurer or the insured include its being done by or in relation to that person’s agent. 23 Short title This Act may be cited as the Insurance Act 2015.

Attachment
E
SCHEDULE 1 Section 8(2).
INSURERS’ REMEDIES FOR QUALIFYING BREACHES
PART 1
CONT RACT S
General
1 This Part of this Schedule applies to qualifying breaches of the duty of fair presentation in relation to contracts of marine insurance (for variations to them, see Part 2). Deliberate or reckless breaches 2 If a qualifying breach was deliberate or reckless, the insurer — (a) may avoid the contract and refuse all claims, and (b) need not return any of the premiums paid. Other breaches 3 Paragraphs 4 to 6 apply if a qualifying breach was neither deliberate nor reckless. 4 If, in the absence of the qualifying breach, the insurer would not have entered into the contr a ct on any terms, the insurer may avoid the contract and refuse all claims, but must in that event return the premiums paid. 5 If the insurer would have entered into the contract, but on different terms (other than ter ms relating to the premium), the contract is to be treated as if it had been entered into on thos e different terms if the insurer so requires. 6 (1) In addition, if the insurer would have entered into the contract (whether the terms relating to matters other than the premium would have been the same or different), but would have charged a higher premium, the insurer may reduce proportionately the amount to be paid on a claim. (2) In sub-paragraph (1), “reduce proportionately” means that the insurer need pay on the claim only X% of what it would otherwise have been under an obligation to pay under the terms of the contract (or, if applicable, under the different terms provided for by virtue of paragraph 5), where— X = (Premium actually charged / Higher premium) x 100

Attachment
E
PART 2
VARIATIONS
General
7 This Part of this Schedule applies to qualifying breaches of the duty of fair presentation in relation to variations to contracts of marine insurance. Deliberate or reckless breaches 8 If a qualifying breach was deliberate or reckless, the insurer — (a) may by notice to the insured treat the contract as having been terminated with effect from the time when the variation was made; and (b) need not return any of the premiums paid. Other breaches 9 (1) This paragraph applies if— (a) a qualifying breach was neither deliberate nor reckless, and (b) the total premium was increased or not changed as a result of the variation. (2) If, in the absence of the qualifying breach, the insurer would not have agreed to the variation on any terms, the insurer may treat the contract as if the variation was never made, but must in that event return any extra premium paid. (3) If sub-paragraph (2) does not apply— (a) if the insurer would have agreed to the variation on different terms (other than terms relating to the premium), the variation is to be treated as if it had been entered into on those different terms if the insurer so requires, and (b) paragraph 11 also applies if (in the case of an increased premium) the insurer would have increased the premium by more than it did, or (in the case of an unchanged premium) the insurer would have increased the premium. 10 (1) This paragraph applies if— (a) a qualifying breach was neither deliberate nor reckless, and (b) the total premium was reduced as a result of the variation. (2) If, in the absence of the qualifying breach, the insurer would not have agreed to the variation on any terms, the insurer may treat the contract as if the variation was never made, and paragraph 11 also applies. (3) If sub-paragraph (2) does not apply— (a) if the insurer would have agreed to the variation on different terms (other than

Attachment
E terms relating to the premium), the variation is to be treated as if it had been entered into on those different terms if the insurer so requires, and (b) paragraph 11 also applies if the insurer would have increased the premium, would not have reduced the premium, or would have reduced it by less than it did. Proportionate reduction 11 (1) If this paragraph applies, the insurer may reduce proportionately the amount to be paid on a claim arising out of events after the variatio (2) In sub-paragraph (1), “reduce proportionately” means that the insurer need pay on the claim only Y% of what it would otherwise have been under an obligation to pay under the terms of the contract (whether on the original terms, or as varied, or under the different terms provided for by virtue of paragraph 9(3)(a) or 10(3)(a), as the case may be), where— Y = (Total premium actually charged / P) x 100 (3) In the formula in sub-paragraph (2), “P”— (a) in a paragraph 9(3)(b) case, is the total premium the insurer would have charged, (b) in a paragraph 10(2) case, is the original premium, (c) in a paragraph 10(3)(b) case, is the original premium if the insurer would not have changed it, and otherwise the increased or (as the case may be) reduced total premium the insurer would have charged.
PART 3
SUPPLEMENTARY
Relationship with section 84 of the Marine Insurance Act 1906 12 Section 84 of the Marine Insurance Act 1906 (return of premium for failure of considerati on ) is to be read subject to the provisions of this Schedule in relation to contracts of mari ne insurance.

---

Attachment F
APPLICATION OF ENGLISH LAW REGULATIONS 2015

Attachment F
TABLE OF CONTENTS
Section Page

1. Application of common law and equity.....................................................................1
2. Application of certain statutes..................................................................................2
3. Concurrent administration of law and equity.............................................................3
4. Rule against perpetuities.........................................................................................4
5. Power to remove difficulties.....................................................................................4
6. Exclusion of criminal law .........................................................................................4
7. Interpretation...........................................................................................................4
8. Short title, extent and commencement.....................................................................5

Attachment F
APPLICATION OF ENGLISH LAW REGULATIONS 2015
Regulations to apply English common law (including equity) and certain statutes in the Abu Dhabi Global Market and to make provision for connected purposes. Date of Enactment: 3 March 2015 The Board of Directors of the Abu Dhabi Global Market, in exercise of its powers under
Article 6(1) of Law No. 4 of 2013 concerning the Abu Dhabi Global Market issued by His
Highness the Ruler of the Emirate of Abu Dhabi, hereby enacts the following Regulations -

1. Application of common law and equity
   (1) The common law of England (including the principles and rules of equity), as it stands from time to time, shall apply and have legal force in, and form part of the law of, the Abu Dhabi Global Market - (a) so far as it is applicable to the circumstances of the Abu Dhabi Global Market; (b) subject to such modifications as those circumstances require; (c) subject to any amendment thereof (whenever made) pursuant to any Abu Dhabi Global Market enactment; and (d) notwithstanding any amendment thereof as part of the law of England made pursuant to an Act or any legislative instrument adopted thereunder at any time after the date of enactment of these Regulations, which amendment shall not apply and have legal force in, or form part of the law of, the Abu Dhabi Global Market, unless and until an Abu Dhabi Global Market enactment expressly provides that it applies and has legal force in, and forms part of the law of, the Abu Dhabi Global Market. (2) Subsection (1) is subject to any contrary provision in any Applicable Abu Dhabi Law or Abu Dhabi Global Market enactment. In the event of any conflict or inconsistency between (a) a provision, rule or principle of the common law of England (including the principles and rules of equity) and (b) any provision, rule or principle of any Applicable Abu Dhabi Law or Abu Dhabi Global Market enactment, the latter shall prevail. (3) Where a particular rule or principle of the common law of England (including the principles and rules of equity) has been abolished by a provision of an Act or any legislative instrument adopted thereunder, which provision does not apply in, have legal force in, and form part of the law of, the Abu Dhabi Global Market pursuant to the Schedule, that rule or principle shall, notwithstanding such abolition but subject to subsection (1), apply and have legal force in, and form part of the law of, the Abu Dhabi Global Market. (4) Where a particular rule or principle of the common law of England (including the principles and rules of equity) has been modified by a provision of an Act or any legislative instrument adopted thereunder, which provision does not apply in, have legal force in, and form part of the law of, the Abu Dhabi Global Market pursuant to the Schedule, that rule or principle shall, notwithstanding such modification but subject to subsection (1), apply and have legal force in, and form part of the law of, the Abu Dhabi Global Market without giving effect to any such modification.

Attachment F
2. Application of certain statutes
(1) The Acts specified in the first column of the Schedule, as and to the extent in force in England at the date of enactment of these Regulations or at the date of such amendments to these Regulations as are set out in the first column of the Schedule , shall apply and have legal force in, and form part of the law of, the Abu Dhabi Globa l Market - (a) to the extent specified in the second column thereof and subject to any omissions, insertions and modifications set out in that column; (b) subject to any amendment thereof (whenever made) pursuant to any Applicable Abu Dhabi Law or an Abu Dhabi Global Market enactment; and (c) notwithstanding any amendment thereof as part of the law of England made pursuant to an Act or any legislative instrument adopted thereunder at any time after the date of enactment of these Regulations, which amendment shall not apply and have legal force in, or form part of the law of, the Abu Dhabi Global Market, unless and until an Abu Dhabi Global Market enactment expressly provides that it applies and has legal force in, and forms part of the law of, the Abu Dhabi Global Market. (2) Subsection (1) is subject to any contrary provision in any Applicable Abu Dhabi Law or Abu Dhabi Global Market enactment. In the event of any conflict or inconsistency between (a) a provision of any Act applicable in the Abu Dhabi Global Market by virtue of subsection (1), and (b) any provision, rule or principle of any Applicable Abu Dhabi Law or Abu Dhabi Global Market enactment, the latter shall prevail. (3) In relation to any Act specified in the Schedule, unless the context otherwise requires or unless specified otherwise in these Regulations - (a) any reference to England, England and Wales, Great Britain or the United Kingdom shall be read as a reference to the Abu Dhabi Global Market, and "English", "British" and related expressions shall be construed accordingly; (b) any reference in such Act to a provision of any other Act shall be read as a reference to such provision as applied and having legal force in, and forming
part of the law of, the Abu Dhabi Global Market;
(c) any reference in an Abu Dhabi Global Market enactment to such Act shall be read as a reference to such Act as applied and having legal force in, and forming part of the law of, the Abu Dhabi Global Market; (d) any references to the "High Court" or the "County Court" shall be read as references to the Court; (e) the words "statute" or "enactment" shall be read as referring to any of (i) an Applicable Abu Dhabi Law, (ii) an Abu Dhabi Global Market enactment, or (iii) any other Act applied and having legal force in, and forming part of the law of, the Abu Dhabi Global Market pursuant to these Regulations, and "statutory" and like expressions shall be construed accordingly; (f) where, as of the date of enactment of these Regulations, any provision of such Act stands repealed in relation to England, it shall not apply and have legal force in, and form part of the law of, the Abu Dhabi Global Market,

Attachment F notwithstanding that (i) the repeal is, in England, subject to any savings or transitional provisions, (ii) the repealed provision is not specifically omitted in the Schedule, and (iii) the provision of the repealing Act (or of any legislative instrument adopted thereunder) that effects the repeal is omitted by the
Schedule or does not, pursuant to the Schedule, apply and have legal force
in, and form part of the law of, the Abu Dhabi Global Market; (g) where, as of the date of enactment of these Regulations, any provision of such Act has been modified or inserted into such Act by a provision of another Act (or of any legislative instrument adopted thereunder) and the first provision is, pursuant to the Schedule, applied and has legal force in, and forms part of the law of, the Abu Dhabi Global Market, it shall do so (or do so with such modification, if applicable) even if the second provision does not, pursuant to the Schedule, apply and have legal force in, and form part of the law of, the Abu Dhabi Global Market and even if the second provision is omitted pursuant to the Schedule; (h) any references to (i) Scotland or Northern Ireland, or (ii) any Act relating solely to Scotland or Northern Ireland (including to any legislative instrument which relates solely to Scotland or Northern Ireland), shall be disregarded; (i) any provisions relating only to Scotland or Northern Ireland shall be disregarded; (j) any references to "land" or "real property" shall be read as references to "real property", as defined in the Real Property Regulations 2015; (k) any reference to "mortgage" in relation to land shall be read as a reference to "mortgage", as defined in the Real Property Regulations 2015; (l) any reference to a "personal representative" shall be read as a reference to the legal heir or representative of a deceased person; and (m) any reference in such Act to any provision of such Act that is omitted pursuant to the Schedule shall also be omitted. (4) Except as provided in these Regulations, no Act shall apply and have legal force in, or form part of the law of, the Abu Dhabi Global Market. (5) The Board may in any manner it thinks fit publish copies of the Acts which apply and have legal force in, and form part of the law of, the Abu Dhabi Global Market reflecting such revisions as are made by these Regulations. (6) The copies of Acts published in accordance with subsection (5) shall, in the Court and for all purposes related to determining the law of the Abu Dhabi Global Market, be treated as authentic texts of those Acts as applicable and having legal force in, and forming part of the law of, the Abu Dhabi Global Market.
3. Concurrent administration of law and equity
(1) The Court and all tribunals in the Abu Dhabi Global Market shall administer English common law and equity on the basis that, wherever there is any conflict or variance between the rules of equity and the rules of the common law with reference to the same matter, the rules of equity shall prevail.

Attachment F
(2) The Court and all tribunals in the Abu Dhabi Global Market shall, when applying the law of the Abu Dhabi Global Market, give the same effect - (a) to all equitable estates, titles, rights, reliefs, defences and counterclaims, and to all equitable duties and liabilities; and (b) subject thereto, to all legal claims and demands and all estates, titles, rights, duties, obligations and liabilities existing by the common law or by any custom or created by any other law in force in the Abu Dhabi Global Market, and, subject to the provisions of these Regulations and any other law, shall so exercise their jurisdiction in every cause or matter before them as to secure that, as far as possible, all matters in dispute between the parties are completely and finally determined, and all multiplicity of legal proceedings with respect to any of those matters is avoided. (3) Nothing in these Regulations shall affect the power of the Court to stay any proceedings before it, where it thinks fit to do so, either of its own motion or on the application of any person, whether or not a party to the proceedings.
4. Rule against perpetuities
(1) The rule against perpetuities (or remoteness of vesting) is abolished. (2) A trust (whether created by an instrument or otherwise) may continue in existence for an unlimited period unless the terms of the trust provide to the contrary. (3) This section does not affect any rule of law that limits the duration of non -charitable purpose trusts.
5. Power to remove difficulties
The Board may, where it considers it necessary or expedient for the purpose of removing any difficulty arising from local conditions or circumstances in the application of any provision in any Act specified in the Schedule, make rules to modify or substitute that provision.
6. Exclusion of criminal law
Nothing in these Regulations creates a criminal offence.
7. Interpretation
In these Regulations, unless the context indicates otherwise, the defined terms listed below shall have the corresponding meanings - "Abu Dhabi Global Market enactment" means any regulations adopted by the Board pursuant to Article 6(1) of the ADGM Founding Law, including any subordinate legislation adopted pursuant to any such regulations or pursuant to the ADGM Founding Law; "Act" means an Act of the Parliament of England, an Act of the Parliament of Great Britain, an Act of the Parliament of the United Kingdom of Great Britain and Ireland, or an Act of the Parliament of the United Kingdom of Great Britain and Northern Ireland, as the context requires; and

Attachment F
"Applicable Abu Dhabi Law" means any of the following: (i) the Constitution; (ii) the Financial Free Zones Law and any rules, orders, decrees, resolutions, by-laws, notifications or similar measures adopted pursuant to that law; (iii) any Federal Law which, pursuant to the Constitution and the Financial Free Zones Law, applies and has legal force in, and forms part of the law of, the Abu Dhabi Global Market; (iv) the ADGM Founding Law; and (v) a law issued after the date of enactment of these Regulations by His Highness the Ruler of the Emirate of Abu Dhabi which expressly provides for the law to have application in the Abu Dhabi Global Market and any rules, regulations, orders, resolutions or similar measures adopted pursuant to such law.
8. Short title, extent and commencement
(1) These Regulations may be cited as the Application of English Law Regulations 2015. (2) These Regulations shall apply in the Abu Dhabi Global Market. (3) These Regulations come into force on the date of their publication. The Board may by rules make any transitional, transitory, consequential, saving, incidental or supplementary provision in relation to the commencement of these Regulations as the Board thinks fit.

Attachment F
SCHEDULE: APPLICABLE STATUTES
Section 2
Act Extent of application and modifications
Statute of Frauds 1677 (Chapter 3) The whole Act.
Life Assurance Act 1774 (Chapter 48) The whole Act.
Statute of Frauds Amendment Act 1828
(Chapter 14)
The whole Act, other than section 9, which shall be omitted.
Mercantile Law Amendment Act 1856
(Chapter 97)
The whole Act, other than section 17, which shall be omitted, and subject to the following modification: in section 8, the words "United Kingdom of Great Britain and Ireland, the Islands of Man, Guernsey, Jersey, Alderney, and Sark, and the islands adjacent to any of them, being part of the dominions of Her Majesty" shall be substituted by the words "United Arab Emirates". Policies of Assurance Act 1867 (Chapter 144) The whole Act, other than section 8, which shall be omitted, and subject to the following modifications:
(1) In section 3, the words "either in
England or Scotland or Ireland" shall be omitted.
(2) In section 4, the words "after the thirtieth day of September one thousand eight hundred and sixty seven" shall be omitted. (3) In section 6, the words "fee not exceeding 25p" shall be substituted by the words "reasonable fee". Apportionment Act 1870 (Chapter 35) The whole Act. Bankers' Books Evidence Act 1879 (Chapter 11) The whole Act, subject to the following modifications:
(1) In sections 4 and 5, the words
"commissioner or" shall be omitted.
(2) In section 6, the words "or under the Civil Evidence (Scotland) Act 1988, or Schedule 3 to the Prisoners and Criminal

Attachment F
Proceedings (Scotland) Act 1993 or
Schedule 8 to the Criminal
Procedure (Scotland) Act 1995" shall be omitted.
(3) Subsections (1), (1A), (1B) and
(1C) of section 9 shall be omitted.
(4) In section 10: (i) in the definition of
"legal proceeding" the words "or criminal" shall be omitted; (ii) paragraphs (b) and (c) of the definition of "legal proceeding" shall be omitted; (iii) the definition of "judge" shall be omitted; and (iv) the final sentence of the
section shall be omitted.
(5) In section 11, the words "Sunday,
Christmas Day, Good Friday" shall be substituted by the words "Friday, Saturday". Bills of Exchange Act 1882 (Chapter 61) as amended by the Small Business, Enterprise and Employment Act 2015 The whole Act, other than sections 98, 99 and 100, which shall be omitted, and subject to the following modifications:
(1) Any references to the "British
Islands" in the Act shall be read as references to the Abu Dhabi Global Market. (2) In section 2, the definition of "Postal operator" shall be substituted by the following definition: ""Postal operator" means a person who provides (a) the service of conveying postal packets from one place to another by post, or (b) any of the incidental services of receiving, collecting, sorting and delivering postal packets." (3) In subsection (1) of section 4, the definition of "British Islands" shall be omitted. (4) In subsection (2) of section 13, the word "Sunday" shall be substituted by the words "Friday or Saturday". (5) Subsection (7A) of section 51 shall be omitted.

Attachment F
(6) In subsection (1) of section 53, the words "This subsection shall not extend to Scotland" shall be omitted. (7) Subsection (2) of section 53 shall be omitted. (8) In section 74A, the words "the London, Edinburgh and Belfast Gazettes" shall be substituted by the words "at least two leading English language newspapers of the United Arab Emirates". In section 92, the definition of "Non￾business days" shall be substituted by the following: ""Non-business days" for the purposes of this Act mean any Friday, Saturday or any other day declared a public holiday in the United Arab Emirates.". (9) Any references to the "Treasury" or "regulations" in Part 4A of the Act shall be read as references to the Board or to rules respectively. (10) The words in parenthesis at the end of section 89B(2) shall be omitted. (9)(11)Sections 89F(2), (3) and (4) shall be omitted and Sections 89(F)(5) and (6) renumbered accordingly. (10)(12)Subsection (2) of section 94 shall be omitted. (11)(13)In subsection (3) of section 97: (i) the words "or in any repeal effected thereby" shall be omitted; (ii) paragraph (a) shall be omitted; (iii) in paragraph (b) the words "Companies Act 1862" shall be substituted by the words "Companies Regulations 2015" and the word "Acts" shall be substituted by the word "enactments"; and (iv) paragraph (c) shall be omitted. (12)(14)In Schedule 1, the words "in the county of" and "188" shall be omitted.

Attachment F
Factors Act 1889 (Chapter 45) The whole Act, other than section 16, which shall be omitted, and subject to the following modification: in section 9, the words in the second paragraph commencing with "for the purposes of this
section" and ending with "in the agreement
are fulfilled" shall be omitted.
Partnership Act 1890 (Chapter 39) The whole Act, other than section 47, which shall be omitted, and subject to the following modifications:
(1) In subsection (2) of section 1, the words "Companies Act 2006" shall be substituted by the words "Companies Regulations 2015" and the words "Act of Parliament or letters patent, or Royal Charter" shall be substituted by the word "enactment". (2) In paragraph (c) of subsection (3) of section 2, the words "surviving civil partner" shall be omitted. (3) In section 3, the words "100p in the pound" shall be substituted by the words "the full amount due". (4) Subsection (2) of section 4 shall be omitted. (5) In section 9, the words "and in Scotland severally also" and the words "in England or Ireland" shall be omitted. (6) In subsection (2) of section 20, the words "or in Scotland the title to and interest in any heritable estate" shall be omitted. (7) In subsection (3) of section 20, the words "or in Scotland of any heritable estate" shall be omitted. (8) In subsection (2) of section 23, the words "High Court or a judge thereof, or the county court in England and Wales or a county court in Northern Ireland" shall be substituted by the word "Court".

Attachment F
(9) Subsection (5) of section 23 shall be omitted.
(10) In subsection (1) of section 31, between the words "An assignment" and "by any partner" the words "of any nature" shall be inserted and between the words "by any partner of" and the words "his share in the partnership" the words "all or any part of" shall be inserted. (11) Subsection (2) of section 36 shall be substituted by the following subsection, namely: "(2) An advertisement shall be sufficient notice, to persons who had dealings with the firm before the date of the dissolution or change so advertised, of the change in constitution of the firm." (12) The following subsection shall be inserted after subsection (2) of
section 36, namely: "(2A) The
advertisement referred to in subsection (2) must be - (a) legible and clearly state the necessary details of a change of partner or dissolution of the firm; and (b) placed in one or more newspapers or other publications best suited to bring the change or dissolution to the attention of any persons who may be affected by such change or dissolution." (13) In section 38, the words "and in relation to any prosecution of the partnership by virtue of section 1 of the Partnerships (Prosecution) (Scotland) Act 2013" shall be omitted. Bodies Corporate (Joint Tenancy) Act 1899 (Chapter 20) The whole Act. Marine Insurance Act 1906 (Chapter 41), as amended by the Insurance Act 2015 The whole Act, subject to the following modifications:
(1) Subsection (6) of section 18 shall be omitted.

Attachment F
(2) Subsection (2) of section 19 shall be omitted.
(3) Subsection (8) of section 20 shall be omitted.
(4) In subsection (1) of section 91: (i) the words "or in any repeal effected thereby" shall be omitted; (ii) paragraph (a) shall be omitted; (iii) in paragraph (b) the words "Companies Act 1862" shall be substituted by the words "Companies Regulations 2015"; and (iv) paragraph (c) shall be omitted. (5) In Schedule 1, in the form of policy set out in it, the words "And it is agreed by us, the insurers, that this writing or policy of assurance shall be of as much force and effect as the surest writing or policy of assurance heretofore made in Lombard Street, or in the Royal Exchange, or elsewhere in London" appearing in the eighth paragraph shall be omitted and the word "London" appearing in the ninth paragraph shall be substituted by "………". Limited Partnerships Act 1907 (Chapter 24) The whole Act, other than section 10, which shall be omitted, and subject to the following modifications:
(1) In subsection (2) of section 4, the words "shall at the time of entering into such partnership contribute thereto a sum or sums as capital or property valued at a stated amount" shall be substituted by the words "may make one or more capital contributions (whether in cash or in kind) to the firm at any time", and the words "so contributed" shall be substituted by the words "of that limited partner's capital contributions (if any) (and without recourse to the personal assets of that limited partner other than such capital contributions)".

Attachment F
(2) The words of subsection (3) of
section 4 shall be substituted by the
following words: "Subject to any agreement to the contrary among the partners, where a limited partner has made one or more capital contributions to the firm, that limited partner is entitled to withdraw all or any portion of its capital in the firm at any time. Subject to any agreement to the contrary among the partners and subject to any enactment or rule of law relating to insolvency, a limited partner that withdraws all or a portion of its capital contribution shall have no liability to return the amount so withdrawn to satisfy the debts and obligations of the firm" (4) In the event of a dissolution of a limited partnership — (a) the general partners shall, within one month of the dissolution of the limited partnership, file a notice of dissolution of the limited partnership with the Registrar; (b) if there are no general partners then, subject to any agreement among the partners to the contrary, the limited partners shall, within one month of the dissolution of the limited partnership, file a notice of dissolution of the limited partnership with the Registrar. (5) Upon receipt of the notice of dissolution, the Registrar shall amend the Register so to indicate that the limited partnership has been dissolved”. (2)(3) The words of subsection (3) of
section 6 shall be substituted by
the following words: "In the event of a dissolution of a limited partnership, and subject to any order made by the Court providing for a different arrangement or

Attachment F procedure - (a) subject to any agreement among the partners to the contrary, the general partners shall wind up the affairs of the limited partnership or shall appoint a suitably qualified person (which may be a third party) to do so; and (b) if there are no general partners then, subject to any agreement among the partners to the contrary, the limited partners shall wind up the affairs of the limited partnership or shall appoint a suitably qualified person (which may be a third party) to do so." (3)(4) After subsection (5) of section 6, the following subsection shall be inserted, namely: "(6) A limited partner shall not be treated as taking part in the management of the partnership business merely by doing one or more of the following - (a) taking part in a decision about the variation of the partnership agreement; (b) taking part in a decision about whether to approve or veto: (i) a type of investment, (ii) a particular investment by the limited partnership, or (iii) the participation by the relevant limited partner in a particular investment by the limited partnership; (c) taking part in a decision about whether the general nature of the partnership business should change; (d) taking part in a decision about whether to dispose of the partnership business or to acquire another business; (e) taking part in a decision about whether a person should become or cease to be a partner; (f) taking
part in a decision about whether
the term of the limited partnership should end, and/or whether the limited partnership should be wound up; (g) taking part in a decision about how the limited partnership should be wound up; (h) enforcing his rights under the partnership agreement (unless those rights are to carry out

Attachment F management functions); (i) approving the accounts of a limited partnership; (j) approving the valuation of the limited partnership's assets; (k) being engaged under a contract by the limited partnership or by a general partner in the limited partnership (unless the contract is to carry out managerial functions); (l) acting in his capacity as a director, member or employee of, or a shareholder in, a general partner or any person appointed to manage or advise the limited partnership in relation to the affairs of the limited partnership; (m) taking part in a decision which involves actual or potential conflicts of interests that affect or relate to the limited partnership or its business or any partner in the limited partnership; (n) discussing the prospects of the partnership business; (o) consulting or advising a general partner, or the general partners, or any person appointed to manage the limited partnership in relation to the affairs of the limited partnership or advising in relation to the activities of the limited partnership or about its accounts (including doing so as a member of an advisory committee of the limited partnership); (p) taking part in any decision regarding any changes in the persons responsible for the day-to￾day management of the limited partnership; (q) taking part in any decision authorising any action by or on behalf of the limited partnership that is not otherwise prohibited by the terms of the partnership agreement; and (r) inspecting the books of the limited partnership and examining into the state and prospects of the partnership business, and advising partners thereon. The fact that a limited partner undertakes, or engages in, any activity not expressly referred to above shall

Attachment F not necessarily constitute that limited partner as taking part in the management of the partnership business.". (4)(5) The following words shall be inserted after the words of
section 7: "Notwithstanding the
preceding sentence, and subject to any agreement among the partners to the contrary, limited partners shall not be subject to the duties contained in sections 28 and 30 of the Partnership Act 1890, or subject to equitable and common law duties (if any) of similar effect.". (5)(6) In paragraph (d) of subsection (1) of
section 8A, the words "for the part
of the United Kingdom in which the principal place of business of the limited partnership is to be situated" shall be omitted. (6)(7) Paragraphs (a), (c), (d) and (f) of subsection (2) of section 8A shall be omitted. (7)(8) Paragraph (b) of subsection (2) of
section 8A shall be re-numbered as
paragraph (a), paragraph (e) of that subsection shall be re-numbered as paragraph (b) and after that paragraph, there shall be inserted the following paragraph, namely: "(c) an election as to whether the limited partnership is to have legal personality (such an election being irrevocable and not subject to change).". (8)(9) Subsection (3) of section 8B shall be omitted. (9)(10)After subsection (4) of section 8C, the following subsection shall be inserted, namely: "(5) Where the application for registration of a limited partnership includes, in accordance with Section 8A, an election that the limited partnership have legal personality, then the certificate of registration shall specify that the limited partnership

Attachment F has legal personality and the certificate shall be conclusive evidence of such legal personality.". (10)(11)Paragraphs (b), (e), (f) and (g) of subsection (1) of section 9 shall be omitted. (11)(12)The words of paragraph (d) of subsection (1) of section 9 shall be substituted by the words "the general partners or the name of any general partner". (12)(13)The words of subsection (2) of
section 9 shall be substituted by
the following words: "if default is made in compliance with the requirements of this section, the registrar may impose a fine not exceeding level 32 on the standard fines scale on each of the general partners.". (13)(14)In section 13, the words "send by post to" shall be substituted by the word "provide". (14)(15)The existing provision of
section 14 shall be numbered as
subsection (1) and after that subsection the following subsections shall be inserted, namely: "(2) The Registrar shall be empowered to - (a) remove a limited partnership from the register and index, on receipt by the Registrar of an application from the general partners of the limited partnership (or from the former general partners of the limited partnership in the case of a dissolved limited partnership) confirming that the limited partnership is to be removed from the register and index (and where applicable that the limited partnership has been dissolved) by, and in accordance with, the agreement of the partners; (b) remove a limited partnership from the register and index on its

Attachment F own initiative upon or following the dissolution of the limited partnership; (c) make a correction to the register and index in respect of a limited partnership, on receipt by the Registrar of an application from the general partners of that limited partnership or as may be directed by the Court. (3) In relation to each registered limited partnership, the register and index shall specify whether or not that limited partnership has legal personality.". (15)(16)In subsection (1) of section 15, the words "registrar of companies" shall be substituted by the word "Registrar". (16)(17)The words of subsection (2) of
section 15 shall be substituted by
the words "In this Act, references to the registrar are to be read as references to the Registrar established under the ADGM Founding Law.". (17)(18)In subsection (1) of section 16, the words "and there shall be paid for such certificate of registration, certified copy or extract such fees as the Board of Trade may appoint, not exceeding 10p for the certificate of registration, and not exceeding 21/2p for each folio of seventy-two words, or in Scotland for each sheet of two hundred words" shall be substituted by the words "in each case for such fee as the registrar may from time to time determine.". (18)(19)In subsection (2) of section 16, the words "civil or criminal" shall be omitted. (19)(20)In section 17, the words "Board of Trade" shall be substituted by the word "Board". Trustee Act 1925 (Chapter 19), as amended by sections 8 and 9 of the Inheritance and Trustees Powers Act Parts II, III, IV and V only, other than sections 34, 35, 54, 56, 63A, 64, 67, and 70, which shall be omitted, and subject to

Attachment F
2014 the following modifications:
(1) Subsection (3) of section 12 shall be omitted.
(2) Subsection (4) of section 13 shall be omitted.
(3) Subsection (2) of section 14 shall be omitted.
(4) In section 15, the words "subject to the restrictions imposed in regard to receipts by a sole trustee not being a trust corporation", and the words "where by the instrument, if any, creating the trust, or by statute, a sole trustee is authorised to execute the trusts and powers reposed in him" shall be omitted. (5) In subsection (2) of section 16, the words "or to trustees of a settlement for the purposes of the Settled Land Act 1925, not being also the statutory owners" shall be omitted. (6) Subsections (3) and (4) of
section 18 shall be omitted.
(7) In subsection (1) of section 20, the words "or to a settlement within the meaning of the Settled Land Act 1925", the words "or by a tenant for life impeachable for waste" and the words "or settlement, as the case may be" shall be omitted. (8) In subsection (2) of section 20, the words "or settlement" shall be omitted. (9) Paragraphs (a) and (b) of subsection (3) of section 20 and subsection (6) of that section shall be omitted. (10) In subsection (4) of section 20, the words "and, in the case of money which is deemed to be capital money arising under the Settled Land Act 1925, be subject to the provisions of that Act with respect

Attachment F to the application of capital money by the trustees of the settlement" shall be omitted. (11) In paragraph (a) of subsection (2) of section 22, the words "place any distringas notice or" shall be omitted. (12) In subsection (10) of section 25: (i) the words "tenant for life and statutory owner" shall be omitted; (ii) in paragraph (a), the words "except any executor who has renounced probate" shall be omitted; and (iii) paragraphs (b) and (c) shall be omitted. (13) In subsection (1) of section 26:
(i) paragraph (b) of that subsection shall be omitted; (ii) in paragraph (c) of that subsection the words "either of" shall be omitted and the words "foregoing paragraphs" shall be substituted by the words "foregoing paragraph"; and (iii) in the remainder of that subsection the words "or grant", the words "or grantee", and the words "or granted" shall be omitted. (14) Subsection (1A) of section 26 shall be omitted. (15) In subsection (2) of section 26, the words "or grantor" shall be omitted. (16) In subsection (3) of section 26:
(i) the words ""grant" applies to a grant whether the rent is created by limitation, grant, reservation, or otherwise, and includes an agreement for a grant and any instrument giving any such indemnity as aforesaid or varying the liabilities under the grant", the words "and "grantee"" and the word "respectively" shall be omitted; and (ii) the word "include" shall be substituted by the word "includes" and the word "them" shall be substituted by the word "him". (17) In subsection (1) of section 27:

Attachment F
(i) the words "the trustees of a settlement" shall be omitted; and (ii) the words "the Gazette" shall be substituted by the words "such manner as may be prescribed by the Board in rules made by the Board". (18) In subsection (2) of section 31, the words "or forms a civil partnership under that age", the words "or his formation of a civil partnership", the words "or formation of a civil partnership", the words "or for an entailed interest", the words "but without prejudice to any provision with respect thereto contained in any settlement by him made under any statutory powers during his infancy", and the words "and so that, if such property is settled land, such accumulations shall be held upon the same trusts as if the same were capital money arising therefrom" shall be omitted. (19) In subsection (3) of section 31, the words "pounds per centum" shall be substituted by the words "per cent". (20) Subsection (5) of section 31 shall be omitted. (21) Subsections (2) and (3) of
section 32 shall be omitted.
(22) In subsection (1) of section 33, the words "or civil partner" shall be omitted. (23) Subsections (2) and (4) of
section 33 shall be omitted.
(24) In subsection (1) of section 36, the words "subject to the restrictions imposed by this Act on the number of trustees" shall be omitted. (25) In subsection (2) of section 36, the words "but subject to the restrictions imposed by this Act on the number of trustees" shall be omitted.

Attachment F
(26) In subsection (3) of section 36, the words "and of any enactment replaced thereby" shall be omitted. (27) Subsections (4), (5), (6A), (6B), (6C) and (6D) of section 36 shall be omitted. (28) In subsection (6) of section 36, the words "nor shall the number of trustees be increased beyond four by virtue of any such appointment" shall be omitted. (29) In subsection (9) of section 36, the words "of Protection" shall be omitted. (30) In subsection (1) of section 37, the words "subject to the restrictions imposed by this Act on the number of trustees", the words "not exceeding four", the words "save as hereinafter provided" and the words "but, except where only one trustee was originally appointed, and a sole trustee when appointed will be able to give valid receipts for all capital money, a trustee shall not be discharged from his trust unless there will be either a trust corporation or at least two persons to act as trustees to perform the trust" shall be omitted. (31) Subsection (2) of section 37 shall be omitted. (32) In subsection (1) of section 38, the words "coming into operation after the commencement of this Act" shall be omitted. (33) In subsection (1) of section 39, the words "two persons" shall be substituted by the words "one person", the first occurrence of the word "trustees" shall be substituted by the word "trustee" and any references to "co-trustees" and "continuing trustees" in section 39 or section 40 shall be construed accordingly.

Attachment F
(34) In subsections (1) and (2) of
section 40, the words "is made
after the commencement of this Act and" shall be omitted.
(35) In subsection (3) of section 40, the words "whether made before or after the commencement of this Act" shall be omitted. (36) In subsection (4) of section 40, the words "an Act of Parliament" shall be substituted by the words "any enactment". (37) Subsection (6) of section 40 shall be omitted. (38) Subsections (2) and (4) of
section 41 shall be omitted.
(39) In section 42, the words "other than the Public Trustee" shall be omitted. (40) The proviso to section 47 shall be omitted. (41) In subsections (3) and (4) of
section 51, the words "Registrar of
Government Stock" shall be substituted by the word "Registrar".
(42) Subsection (6) of section 51 shall be omitted.
(43) In section 55, the words "or under sections 15 to 20 of the Mental Capacity Act 2005 or any corresponding provision having effect in Northern Ireland" shall be omitted. (44) Subsection (4) of section 57 shall be omitted. (45) In section 59, the words "counsel and solicitor" shall be substituted by the word "lawyer". (46) In section 61, the words "whether the transaction alleged to be a breach of trust occurred before or

Attachment F after the commencement of this
Act" shall be omitted.
(47) Subsection (2) of section 62 shall be omitted.
(48) In section 66, the words "Bank of
England, the Registrar of
Government Stock, any previous
Registrar of Government Stock" shall be substituted by the word "Registrar". (49) In subsection (1) of section 68: (i) the definitions set out in paragraphs (4) (Gazette), (6) (Land), (9) (Personal representative), (15) (Tenant for life, statutory owner, settled land, settlement, trust instrument, trustees of the settlement, term of years absolute, and vesting instrument) and (20) (United Kingdom) shall be omitted; (ii) in the definition of "Instrument" the words "Act of Parliament" shall be substituted by the words "an enactment"; (iii) in the definition of "Mortgage" the words "by way of legal mortgage" shall be omitted; and (iv) in the definition of "Trust corporation" the words "the Public Trustee or", the word "either" and the words "or entitled by rules made under subsection (3) of
section four of the Public Trustee
Act 1906, to act as custodian trustee" shall be omitted.
(50) Subsections (2) and (3) of
section 68 shall be omitted.
(51) Subsection (1) of section 69 shall be omitted.
(52) Subsections (3) and (4) of
section 71 shall be omitted.
Law Reform (Miscellaneous Provisions)
Act 1934 (Chapter 41)
The whole Act, other than section 3, which shall be omitted, and subject to the following modification: subsection (2) of
section 4 shall be omitted.

Attachment F
Law Reform (Married Women and
Tortfeasors) Act 1935 (Chapter 30)
The whole Act, other than section 5, which shall be omitted, and subject to the following modifications:
(1) Subsection (1) of section 4 shall be omitted.
(2) In subsection (1) of section 2: (i) paragraph (a) shall be omitted; (ii) in paragraph (b) the words "married after the passing of this Act" shall be omitted; and (iii) in paragraph (c) the words "after the passing of this Act" shall be omitted. (3) Subsections (2) and (3) of section 8 shall be omitted. Law Reform (Frustrated Contracts) Act 1943 (Chapter 40) The whole Act, subject to the following modification: subsections (1) and (2) of
section 2 shall be omitted.
Law Reform (Contributory Negligence)
Act 1945 (Chapter 28)
The whole Act, other than sections 3, 5 and 6, which shall be omitted, and subject to the following modification: in subsection (5) of section 1, the words "the Limitation Act 1939, or any other enactment" shall be substituted by the words "any enactment". Law Reform (Personal Injuries) Act 1948 (Chapter 41) The whole Act, other than sections 2, 4 and 5, which shall be omitted, and subject to the following modifications:
(1) Subsection (2) of section 1 shall be omitted.
(2) Subsection (2) of section 6 shall be omitted.
Occupiers' Liability Act 1957 (Chapter
31)
The whole Act, other than sections 6 and
7, which shall be omitted, and subject to the following modifications:
(1) Subsection (4) of section 1 shall be omitted.
(2) In subsection (4) of section 3, the words "(including a statutory tenancy which does not in law amount to a tenancy)" shall be omitted.

Attachment F
(3) Subsection (5) of section 3 shall be omitted.
(4) Subsection (4) of section 5 shall be omitted.
(5) Subsections (2) and (3) of section 8 shall be omitted.
Cheques Act 1957 (Chapter 36) The whole Act, other than section 7, which shall be omitted, and subject to the following modifications:
(1) Paragraph (c) of subsection (2) of
section 4 shall be omitted.
(2) Subsection (2) of section 8 shall be omitted.
Variation of Trusts Act 1958 (Chapter 53) The whole Act, other than section 2, which shall be omitted, and subject to the following modifications:
(1) In subsection (1) of section 1, the words "arising, whether before or after the passing of this Act, under any will, settlement or other disposition" shall be omitted. (2) Subsections (3), (5) and (6) of
section 1 shall be omitted.
Corporate Bodies' Contracts Act 1960
(Chapter 46)
The whole Act, subject to the following modifications:
(1) Subsection (5) of section 1 shall be omitted.
(2) In section 2, the reference to the
"Companies Act 2006" shall be read as a reference to the Companies Regulations 2015. (3) Paragraph (c) of section 2 shall be omitted. (4) Subsection (3) of section 4 shall be omitted. Law Reform (Husband and Wife) Act 1962 (Chapter 48) The whole Act, other than section 2, which shall be omitted, and subject to the following modifications:

Attachment F
(1) Paragraph (b) of subsection (2) of
section 1, and the words appearing
after that paragraph shall be omitted.
(2) Subsection (4) of section 1 shall be omitted.
(3) In subsection (3) of section 3, the words "and subsection (1) of
section two" shall be omitted.
(4) Subsections (4) and (5) of section 3 shall be omitted.
Hire-Purchase Act 1964 (Chapter 53) The whole Act, subject to the following modifications:
(1) In subsection (1) of section 27, the words "or (in Scotland) hired" shall be omitted. (2) In subsection (1) of section 28, the words "(whether criminal or civil)" and the words "or (in Scotland) hired" shall be omitted. (3) In section 29, the words "or (in Scotland) hired", the words "or (in Scotland) hiring" and the words "or hired" shall be omitted. (4) In paragraph (b) of subsection (4) of section 29, the words "including a person who at the time is, by virtue of section 130(4) of the Consumer Credit Act 1974 treated as a bailee or (in Scotland) a custodier of the vehicle" shall be omitted. (5) Subsection (5) of section 37 shall be omitted. Misrepresentation Act 1967 (Chapter 7) The whole Act, other than section 5, which shall be omitted, and subject to the following modifications:
(1) Subsections (4) and (5) of section 2 shall be omitted.
(2) Subsections (2), (3) and (4) of

Attachment F
section 6 shall be omitted.
Law Reform (Miscellaneous Provisions)
Act 1970 (Chapter 33)
The whole Act, other than the Schedule, which shall be omitted, and subject to the following modifications:
(1) Subsection (2) of section 1 shall be omitted.
(2) In subsection (1) of section 2, the words "including any such rule as explained by section 37 of the Matrimonial Proceedings and Property Act 1970" shall be omitted. (3) Subsection (2) of section 2 shall be omitted. (4) In section 5, the words "except in the case of a cause of action accruing before this Act comes into force if an action in respect thereof has been begun before this Act comes into force" shall be omitted. (5) Subsections (2), (3) and (4) of
section 7 shall be omitted.
Powers of Attorney Act 1971 (Chapter
27)
The whole Act, other than Schedule 2, which shall be omitted, and subject to the following modifications:
(1) In paragraph (b) of subsection (1) of section 3, the words "solicitor, authorised person or stockbroker" shall be substituted by the word "lawyer". (2) Subsections (3) and (5) of section 3 shall be omitted. (3) In subsection (4) of section 3, the words "section 4 of the Evidence and Powers of Attorney Act 1940 (proof of deposited instruments by office copy) and to" shall be omitted. (4) Subsection (3) of section 4 shall be omitted. (5) In paragraph (b) of subsection (4) of section 5, the words "statutory

Attachment F declaration" shall be substituted by the words "a declaration in a form prescribed by the Board in rules made by the Board". (6) The words of subsection (6) of
section 5 shall be substituted by
the following words: "In this section

• (a) "purchaser" means a
  purchaser in good faith for money or money's worth and includes a lessee, mortgagee or other person who for money or money's worth acquires an interest in property; (b) where the context so requires "purchaser" includes an intending purchaser; and (c) "purchase" has a meaning corresponding with that of "purchaser".". (7) Subsection (7) of section 5 shall be omitted. (8) The words of subsection (2) of
  section 6 shall be substituted by
  the following words: "In this section
• (a) "registered securities" means
  transferable securities the holders of which are entered in a register (whether maintained in the Abu Dhabi Global Market or not); and (b) "stock exchange transaction" means a sale and purchase of securities in which each of the parties is a member of a stock exchange acting in the ordinary course of his business as such or is acting through the agency of such a member; and for the purposes of this definition "stock exchange" means any stock exchange which is declared to be a recognised stock exchange in rules made by the Board.". (9) Subsections (1A), (2) and (4) of
  section 7 shall be omitted.
  (10) In subsection (2) of section 10, the words "or as a tenant for life or statutory owner within the meaning of the Settled Land Act 1925" shall be omitted.

Attachment F
(11) Subsections (2), (3) and (5) of
section 11 shall be omitted.
Supply of Goods (Implied Terms) Act
1973 (Chapter 13)
The whole Act, other than sections 12A and 17, which shall be omitted, and subject to the following modifications:
(1) In subsection (1) of section 8, the words "or (in Scotland) hired" shall be omitted. (2) In subsection (2) of section 8, the words "or hired" shall be omitted. (3) In subsection (3) of section 8, the words "as regards England and Wales and Northern Ireland" shall be omitted. (4) In subsection (1) of section 9, the words "or (in Scotland) hired" and the words "or hired" shall be omitted. (5) In subsection (1A) of section 9, the words "as regards England and Wales and Northern Ireland" shall be omitted. (6) In subsection (2) of section 9, the words "or hired" and the words "or hire" shall be omitted. (7) In subsection (1) of section 10, the words "including any enactment of the Parliament of Northern Ireland, or the Northern Ireland Assembly" and the words "or (in Scotland) hired" shall be omitted. (8) In subsection (2) of section 10, the words "or hires" shall be omitted. (9) In subsection (2C) of section 10, the words "or hired" shall be omitted. (10) In subsection (2D) of section 10, the words "or hired" and the words "or, in Scotland, if the goods are hired to a person under a consumer contract" shall be omitted.

Attachment F
(11) In subsection (2F) of section 10, the words "or hired" and the words "or, in Scotland, whether or not the goods are hired to a person under a consumer contract" shall be omitted. (12) In subsection (3) of section 10, the words "or hires" and the words "or hired" shall be omitted. (13) In subsection (5) of section 10, the words "or hiring" and the words "or hired" shall be omitted. (14) In subsection (7) of section 10, the words "as regards England and Wales and Northern Ireland" shall be omitted. (15) Subsection (8) of section 10 shall be omitted. (16) In subsection (1) of section 11, the words "or (in Scotland) hired" and the words "or hired" shall be omitted. (17) In subsection (2) of section 11, the words "as regards England and Wales and Northern Ireland" shall be omitted. (18) Subsection (5) of section 11A shall be omitted. (19) In subsection (2) of section 14, the words "in England and Wales and Northern Ireland" shall be omitted. (20) In subsection (1) of section 15:
(i) in the definition of "business", the words "(including a Northern Ireland department)" shall be omitted; (ii) in the definition of "creditor", the words "or (in Scotland) hired" shall be omitted; (iii) in the definition of "hire￾purchase agreement" the words "or (in Scotland) hired" and the words "or hired" shall be omitted; and (iv) in the definition of "producer" the words "into the European

Attachment F
Economic Area" shall be omitted.
(21) In subsection (4) of section 15, the words "including any enactment of the Parliament of Northern Ireland or the Northern Ireland Assembly" shall be omitted. (22) Subsections (3), (4) and (5) of
section 18 shall be omitted.
Insurance Companies Amendment Act
1973 (Chapter 58)
The whole Act, subject to the following modification: subsection (2) of section 50 shall be omitted. Fatal Accidents Act 1976 (Chapter 30) The whole Act, other than section 6 and Schedules 1 and 2, which shall be omitted, and subject to following modifications:
(1) In subsection (3) of section 1, paragraphs (aa), (b) and (fa) shall be omitted. (2) Subsection (4A) of section 1 shall be omitted. (3) In paragraph (a) of subsection (5) of section 1, the words "or civil partnership" shall be omitted. (4) Paragraph (b) of subsection (5) of
section 1 shall be omitted.
(5) In paragraphs (a) and (b) of subsection (2) of section 1A, the words "or civil partner" and the words "or a civil partner" shall be omitted. (6) In paragraph (b) of subsection (2) of section 1A, the words "if he was legitimate; and" and the words "of his mother, if he was illegitimate" shall be omitted. (7) In subsection (3) of section 1A, the
figure "£12,980" shall be
substituted by the figure "20,000
United States Dollars".
(8) In subsection (5) of section 1A, the words "The Lord Chancellor may by order made by statutory instrument, subject to annulment in

Attachment F pursuance of a resolution of either House of Parliament" shall be substituted by the words "The Board may make rules to". (9) In subsection (4) of section 2, the word "solicitor" shall be substituted by the word "lawyer". (10) Subsection (4) of section 3 shall be omitted. (11) Subsections (2) and (3) of section 7 shall be omitted. Torts (Interference with Goods) Act 1977 (Chapter 32) The whole Act, other than sections 15 and 16 and Schedule 2, which shall be omitted, and subject to the following modifications:
(1) In section 1, the words "and references in this Act (however worded) to proceedings for wrongful interference or to a claim or right to claim for wrongful interference shall include references to proceedings by virtue of Part I of the Consumer Protection Act 1987 or Part II of the Consumer Protection (Northern Ireland) Order 1987 (product liability) in respect of any damage to goods or to an interest in goods or, as the case may be, to a claim or right to claim by virtue of that
Part in respect of any such
damage" shall be omitted.
(2) Paragraphs (a) and (b) of subsection (8) of section 3 shall be omitted. (3) Subsections (4), (5) and (6) of
section 4 shall be omitted.
(4) Subsections (3) and (4) of section 9 shall be omitted.
(5) Subsection (9) of section 12 shall be omitted.
(6) Subsection (3) of section 13 shall be omitted.
(7) In subsection (1) of section 14, the

Attachment F definitions of "enactment" and
"High Court" shall be omitted.
(8) Subsections (2) and (3) of
section 17 shall be omitted.
(9) In paragraph 6 of Schedule 1, the words "in a registered letter, or by the recorded delivery service" shall be omitted. (10) In paragraph 8 of Schedule 1, the words "and of section 26 of the Interpretation Act 1889 in its application to this Schedule" shall be omitted. Unfair Contract Terms Act 1977 (Chapter 50) Parts I and III and the Schedules only, other than sections 8, 28 and 31 and Schedules 3 and 4, which shall be omitted, and subject to the following modifications:
(1) In paragraph (c) of subsection (1) of section 1, the words "or the Occupiers' Liability Act (Northern Ireland) 1957" shall be omitted. (2) In subsection (1) of section 11, the words "and section 3 of the Misrepresentation Act (Northern Ireland) 1967" shall be omitted. (3) In section 14, the definition of "hire purchase agreement" shall be substituted by the following definition: ""hire-purchase agreement" means an agreement, other than a conditional sale agreement, under which - (a) goods are bailed in return for periodical payments by the person to whom they are bailed, and (b) the property in the goods will pass to that person if the terms of the agreement are complied with and one or more of the following occurs - (i) the exercise of an option to purchase by that person, (ii) the doing of any other specified act by any party to the agreement, or (iii) the happening of any other specified event; and for the purposes of this definition "conditional sale agreement"

Attachment F means an agreement for the sale of goods or land under which the purchase price or part of it is payable by installments, and the property in the goods or land is to remain in the seller (notwithstanding that the buyer is to be in possession of the goods or land) until such conditions as to the payment of installments or otherwise as may be specified in the agreement are fulfilled.". (4) In paragraph (b) of subsection (3) of section 26, the words "(the Channel Islands and the Isle of Man being treated for this purpose as different States from the United Kingdom)" shall be omitted. (5) In subsection (1) of section 27, the words "any part of" shall be omitted. (6) Subsection (3) of section 27 shall be omitted. (7) Paragraph (b) of subsection (1) of
section 29 shall be omitted.
(8) In subsection (3) of section 29, the definitions of "enactment" and "statutory" shall be omitted. (9) Subsections (2), (3) and (4) of
section 32 shall be omitted.
(10) Sub-paragraph (f) of paragraph 1 of
Schedule 1 shall be omitted.
(11) Paragraph 5 of Schedule 1 shall be omitted.
Civil Liability (Contribution) Act 1978
(Chapter 47)
The whole Act, other than sections 5,
8 and 9 and Schedules 1 and 2, which shall be omitted, and subject to the following modifications:
(1) In subsection (5) of section 1, the words "any part of" shall be omitted. (2) Subsections (1) and (2) of section 7 shall be omitted.

Attachment F
(3) Subsections (2) and (3) of
section 10 shall be omitted.
Sale of Goods Act 1979 (Chapter 54) The whole Act, other than sections 1, 15B, 22, 53A, 56, 58, and 63, and Schedules 1, 2, 3 and 4, which shall be omitted, and subject to the following modifications:
(1) All references in the Act to
"custodier" shall be omitted.
(2) All references in the Act to "the
Factors Acts" shall be substituted by references to the Factors Act 1889. (3) Subsections (1) and (7) of
section 11 shall be omitted.
(4) In subsection (5A) of section 12, the words "as regards England and Wales and Northern Ireland" shall be omitted. (5) Subsection (6) of section 12 shall be omitted. (6) In subsection (1A) of section 13, the words "as regards England and Wales and Northern Ireland" shall be omitted. (7) Subsection (4) of section 13 shall be omitted. (8) In subsection (2D) of section 14, the words "or, in Scotland, if a contract of sale is a consumer contract" shall be omitted. (9) In subsection (2F) of section 14, the words "or, in Scotland, whether or not the contract of sale is a consumer contract" shall be omitted. (10) In subsection (6) of section 14, the words "as regards England and Wales and Northern Ireland" shall be omitted. (11) Subsections (7) and (8) of
section 14 shall be omitted.

Attachment F
(12) In subsection (3) of section 15, the words "as regards England and Wales and Northern Ireland" shall be omitted. (13) Subsection (4) of section 15 shall be omitted. (14) Subsection (4) of section 15A shall be omitted. (15) In subsection (4) of section 20, the words "or, in Scotland, where there is a consumer contract in which the buyer is a consumer" shall be omitted. (16) Subsections (2), (3) and (4) of
section 25 shall be omitted.
(17) Subsection (2C) of section 30 shall be omitted.
(18) In subsection (4) of section 32, the words "or, in Scotland, where there is a consumer contract in which the buyer is a consumer" shall be omitted. (19) In subsection (3) of section 35, the words "or (in Scotland) the contract of sale is a consumer contract" shall be omitted. (20) Subsection (8) of section 35 shall be omitted. (21) In subsection (1) of section 48A, the words "or, in Scotland, there is a consumer contract in which the buyer is a consumer" shall be omitted. (22) In subsection (2) of section 48D, the words "in England and Wales or Northern Ireland" and the words "in Scotland he rejects any goods delivered under the contract and treats it as repudiated" shall be omitted. (23) In subsection (2) of section 48E, the words "or, in Scotland, specific

Attachment F implement" shall be omitted.
(24) Subsection (3) of section 49 shall be omitted.
(25) Subsection (4) of section 52 shall be omitted.
(26) Subsection (5) of section 53 shall be omitted.
(27) Subsection (3) of section 55 shall be omitted.
(28) In subsection (1) of section 61: (i) in the definition of "action", the words "and in Scotland condescendence and claim and compensation" shall be omitted; (ii) in the definition of "business", the words "(including a Northern Ireland department)" shall be omitted; (iii) the definition of "consumer contract" shall be omitted; (iv) the definition of "defendant" shall be omitted; (v) the definition of "Factors Acts" shall be omitted; (vi) in the definition of "goods", the words "and in Scotland all corporeal moveables except money" shall be omitted; (vii) the definition of "plaintiff" shall be omitted; (viii) in the definition of "producer", the words "into the European Economic Area" shall be omitted; and (ix) in the definition of "warranty", the words "as regards England and Wales and Northern Ireland" shall be omitted. (29) Subsection (6) of section 61 shall be omitted. (30) Subsections (3) and (5) of
section 62 shall be omitted.
(31) Subsection (2) of section 64 shall be omitted.
Limitation Act 1980 (Chapter 58) The whole Act, other than sections 4, 11A, 15, 16, 17, 18, 19A, 20, 26, 27, 27A, 27AB, 27B, 27C, 33A, 37, 40, and Schedules 1, 2, 3, and 4, which shall be omitted, and

Attachment F subject to the following modifications:
(1) Subsections (1A) and (6) of
section 11 shall be omitted.
(2) Subsection (1A) of section 14 shall be omitted.
(3) The words "and the power conferred by section 72(1) of the Tribunals, Courts and Enforcement Act 2007 shall not be exercisable" in section 19 shall be omitted. (4) Subsections (4) and (7) of
section 28 shall be omitted.
(5) In subsection (1) of section 29, the words "any right of action (including a foreclosure action) to recover land or an advowson or" shall be omitted. (6) Paragraph (b) of subsection (2) of
section 29 shall be omitted and the
words "land, benefice, or" in that subsection and in subsection (3) of
section 29 shall be omitted.
(7) Subsection (4) of section 29 shall be omitted.
(8) The words "land, benefice, or" in subsection (1) of section 31 shall be omitted. (9) In subsection (2) of section 31, the words "in the case of a mortgage of personal property" shall be inserted at the beginning. (10) Subsections (3), (4) and (5) of
section 31 shall be omitted.
(11) In subsection (9) of section 31, the words "or interest in settled property" shall be omitted. (12) Subsection (4A) of section 32 shall be omitted. (13) Subsection (1A) of section 33 shall be omitted.

Attachment F
(14) The second sentence of subsection (2) of section 33 shall be omitted. (15) In subsection (3) of section 35, the words "neither the High Court nor any county court" in the first sentence of that subsection shall be substituted by the words "no Court". (16) In subsection (1) of section 36, after the words "Limitation Act 1939 was applied" the words "in England" shall be inserted. (17) In subsection (1) of section 38:
(i) in the definition of "action", the words "including an ecclesiastical court (and see subsection (11) below)" shall be omitted; (ii) the definition of "land" shall be omitted; (iii) the definition of "rent" shall be omitted; and (iv) the definitions of "settled land", "statutory owner" and "tenant for life" shall be omitted. (18) Subsections (7), (8) and (11) of
section 38 shall be omitted.
(19) In subsection (2) of section 38, the words "(within the meaning of the Mental Capacity Act 2005)" shall be omitted. (20) In subsection (5) of section 38, the words "and any person whose estate or interest might have been barred by a person entitled to an entailed interest in possession shall be treated as claiming through the person so entitled" shall be omitted. (21) In section 39, the words "or to any action or arbitration to which the Crown is a party and for which, if it were between subjects, a period of limitation would be prescribed by or under any such other enactment" shall be omitted. (22) Subsections (2), (3) and (4) of

Attachment F
section 41 shall be omitted.
Supply of Goods and Services Act 1982
(Chapter 29)
Parts I, IB, II, and III only, other than
section 17, which shall be omitted, and
subject to the following modifications:
(1) In subsections (1) and (3) of
section 1 and subsections (1) and
(3) of section 6, the words "in its application to England and Wales and Northern Ireland" shall be omitted. (2) In subsection (1) of section 11M, the words "or, in Scotland, there is a consumer contract in which the transferee is a consumer" shall be omitted. (3) Subsection (5) of section 11M shall be omitted. (4) Paragraph (b) of subsection (2) of
section 11Q shall be omitted, and
in paragraph (a) of that subsection, the words "in England and Wales or Northern Ireland" shall be omitted. (5) In subsection (2) of section 11R, the words "or, in Scotland, specific implement" shall be omitted. (6) In section 11S, the words "or, in Scotland, by section 11C,
section 11D or 11E above" and the
words "or (in Scotland) in breach of any term implied by any rule of law as to the manner in which the installation is carried out" shall be omitted. (7) In subsection (4) of section 12, the words "The Secretary of State may by order" shall be substituted by the words "The Board may make rules to" and the word "order" shall be substituted by the word "rules". (8) Subsection (5) of section 12 shall be omitted. (9) In subsection (1) of section 18:
(i) in the definition of "credit

Attachment F brokerage", the words "or as regards Scotland the hire" shall be omitted; (ii) the definition of "enactment" shall be omitted; (iii) in the definition of "goods", the words "and as regards Scotland all corporeal moveables" shall be omitted and the words "bailment or hire" shall be substituted by the words "or bailment"; (iv) the definition of "hire purchase agreement" shall be substituted by the following definition: ""hire￾purchase agreement" means an agreement, other than a conditional sale agreement, under which - (a) goods are bailed in return for periodical payments by the person to whom they are bailed; and (b) the property in the goods will pass to that person if the terms of the agreement are complied with and one or more of the following occurs

• (i) the exercise of an option to
  purchase by that person, (ii) the doing of any other specified act by any party to the agreement, or (iii) the happening of any other specified event; and for the purposes of this definition "conditional sale agreement" means an agreement for the sale of goods or land under which the purchase price or part of it is payable by installments, and the property in the goods or land is to remain in the seller (notwithstanding that the buyer is to be in possession of the goods or land) until such conditions as to the payment of installments or otherwise as may be specified in the agreement are fulfilled"; and (v) in the definition of "producer" the words "into the European Economic Area" shall be omitted. (10) In subsection (2) of section 18 the word "assignation" shall be omitted. (11) In section 19, the definition of "the 1974 Act" shall be omitted.

Attachment F
(12) Subsections (2), (3), (4), (5) and (6) of section 20 shall be omitted. Occupiers' Liability Act 1984 (Chapter 3) The whole Act, other than sections 1A, 2 and 3, which shall be omitted, and subject to the following modifications:
(1) Subsections (6A), (6AA), (6B) and
(6C) of section 1 shall be omitted.
(2) Subsections (2) and (3) of section 4 shall be omitted.
Foreign Limitation Periods Act 1984
(Chapter 16)
The whole Act, other than sections 1A, 6, and 8, which shall be omitted, and subject to the following modifications:
(1) References in the Act to a "country" shall be read as references to a "jurisdiction". (2) In subsection (1) of section 1, the words "subject to section 1A" shall be omitted. (3) Subsections (2), (3) and (4) of
section 7 shall be omitted.
Latent Damage Act 1986 (Chapter 37) The whole Act, other than section 4, which shall be omitted, and subject to the following modifications:
(1) Subsection (7) of section 3 shall be omitted, and in subsection (4) of
section 3, the words "section 538 of
the Companies Act 1985 (vesting of company property in liquidator)" shall be substituted by the words "section 215(4) of the Insolvency Regulations 2015". (2) In subsection (2) of section 5, the words "has the meaning given by
section 1" shall be substituted by
the words "means the Limitation
Act 1980".
(3) Subsections (3) and (4) of section 5 shall be omitted.
Minors' Contracts Act 1987 (Chapter 13) Sections 2, 3 and 5 only, subject to the following modifications:

Attachment F
(1) In section 2, the words "made after the commencement of this Act" shall be omitted. (2) In paragraph (a) of subsection (1) of section 3, the words "after the commencement of this Act" shall be omitted. (3) Subsections (2) and (3) of section 5 shall be omitted. Carriage of Goods by Sea Act 1992 (Chapter 50) The whole Act, subject to the following modifications:
(1) In subsections (5) and (6) of
section 1: (i) the words "Secretary
of State", wherever they occur, shall be substituted by the word "Board"; (ii) the word "regulations" in subsection (5) of section 1 shall be substituted by the word "rules"; and (iii) the words "and the power to make regulations under that subsection shall be exercisable by statutory instrument subject to annulment in pursuance of a resolution of either House of Parliament" in subsection (6) of
section 1 shall be omitted.
(2) Subsection (5) of section 5 shall be omitted.
(3) Subsections (3) and (4) of section 6 shall be omitted.
Private International Law (Miscellaneous
Provisions) Act 1995 (Chapter 42)
Parts III and IV only, other than sections
15, 15A, 15B, 16, 17, and 18, and the
Schedule, which shall be omitted, and
subject to the following modifications:
(1) The words "or delict" shall be omitted in the whole of Parts III and IV. (2) In subsection (1) of section 9, the words "or (for the purposes of the law of Scotland) delict" shall be omitted. (3) In subsection (6) of section 9, the words "(and without prejudice to

Attachment F the operation of section 14 below)" shall be omitted.
(4) Subsections (7) and (8) of section 9 shall be omitted.
(5) The following words shall be inserted at the beginning of subsection (1) of section 11:
"Subject to subsection (1) of
section 12".
(6) The following words shall be inserted at the beginning of subsection (2) of section 12:
"Subject to subsection (1)".
(7) In section 12, subsections (1) and
(2) shall be re-numbered as subsections (2) and (3) respectively, and the following subsection shall be inserted as subsection (1), namely: "(1) A party's non-contractual obligations to another party shall be governed by any law expressly chosen by those parties in an agreement between them to apply such law to those non-contractual obligations, whether entered into before or after the event giving rise to the damage occurred." (8) In subsection (2) of section 13, the words "any part of" and the words "and any claim under the law of Scotland for verbal injury" shall be omitted. (9) Subsection (1) of section 14 shall be omitted. Trusts of Land and Appointment of Trustees Act 1996 (Chapter 47) The whole Act, other than sections 2, 5, 16, 24, and 25, and Schedules 1, 2, 3, and 4, which shall be omitted, and subject to the following modifications:
(1) Paragraph (b) of subsection (2) of
section 1 and subsection (3) of that
section shall be omitted.
(2) Subsections (2) and (3) of section 3 shall be omitted.

Attachment F
(3) Subsections (2) and (3) of section 4 shall be omitted.
(4) In subsection (7) of section 6, the words "or of the Charity Commission" shall be omitted. (5) Subsection (6) of section 7 shall be omitted. (6) In subsection (3) of section 8, the words "ecclesiastical or public" shall be omitted. (7) In subsection (2) of section 9, the words "statutory declaration" shall be substituted by the words "declaration in a form prescribed in rules made by the Board". (8) Subsections (6) and (9) of section 9 shall be omitted. (9) Subsection (7) of section 9A shall be omitted. (10) In subsection (2) of section 10, the words "ecclesiastical or public" shall be omitted. (11) In subsection (3) of section 10, the words "within the meaning of the Children Act 1989" shall be omitted. (12) Paragraph (b) of subsection (2) of
section 11 and subsections (3) and
(4) of that section shall be omitted.
(13) Subsection (4) of section 14 shall be omitted.
(14) Subsection (4) of section 15 shall be omitted.
(15) In subsection (3) of section 17, the words "(including settled land)" shall be omitted. (16) Paragraph (b) of subsection (4) of
section 17 and subsections (5) and
(6) of that section shall be omitted.

Attachment F
(17) Subsection (3) of section 18 shall be omitted.
(18) In paragraph (c) of subsection (3) of section 19, the words "two persons" shall be substituted by the words "one person", the word "trustees" shall be substituted by the word "trustee" and references to "continuing trustees" in section 19 shall be construed accordingly. (19) Subsection (5) of section 19 shall be omitted. (20) In paragraph (a) of subsection (1) of section 20, the words "(within the meaning of the Mental Capacity Act 2005)" shall be omitted. (21) In subsection (2) of section 20, paragraph (b) of that subsection and the words "of Protection" shall be omitted. (22) Subsections (4), (6), (7) and (8) of
section 21 shall be omitted.
(23) The words of subsection (1) of
section 23 shall be substituted by
the following words: "In this Act -
(a) "purchaser" means a purchaser in good faith for money or money's worth and includes a lessee, mortgagee or other person who for money or money's worth acquires an interest in property; (b) where the context so requires "purchaser" includes an intending purchaser; and (c) "purchase" has a meaning corresponding with that of "purchaser".". (24) Subsections (2) and (3) of
section 23 shall be omitted.
(25) In subsection (1) of section 26, the words "Lord Chancellor" shall be substituted by the word "Board" and the words "by order made by statutory instrument" shall be substituted by the words "make rules to" and the word "him" shall

Attachment F be substituted by the word "it".
(26) Subsections (2) and (3) of
section 26 shall be omitted.
(27) Subsections (2), (3), and (4) of
section 27 shall be omitted.
Trustee Delegation Act 1999 (Chapter
15)
The whole Act, other than sections 3, 5, 7,
8, 9, and 12 and the Schedule, which shall be omitted, and subject to the following modifications:
(1) Paragraph (a) of subsection (2) of
section 1 and subsections (7) and
(9) of that section shall be omitted.
(2) In subsection (1) of section 2 the words "in this subsection "purchaser" has the same meaning as in Part I of the Law of Property Act 1925" shall be substituted by the following words: "In this subsection - (a) "purchaser" means a purchaser in good faith for money or money's worth and includes a lessee, mortgagee or other person who for money or money's worth acquires an interest in property; (b) where the context so requires "purchaser" includes an intending purchaser; and (c) "purchase" has a meaning corresponding with that of "purchaser".". (3) Subsection (4) of section 2 shall be omitted. (4) Subsection (3) of section 10 shall be omitted. (5) Subsection (1) of section 11 shall be omitted. (6) Subsections (1) and (2) of
section 13 shall be omitted.
Contracts (Rights of Third Parties) Act
1999 (Chapter 31)
The whole Act, other than sections 8 and 9, which shall be omitted, and subject to the following modifications:
(1) Subsection (7) of section 2 shall be omitted.

Attachment F
(2) In subsection (2) of section 6, the words "section 33 of the Companies Act 2006" shall be substituted by the words "section 30 of the Companies Regulations 2015". (3) Paragraphs (b) and (c) of subsection (3) of section 6 shall be omitted. (4) Subsections (2A) and (8) of
section 6 shall be omitted.
(5) In paragraph (a) of subsection (4) of section 6, the words ""worker's contract", and "worker" have the meaning given by section 54 of the National Minimum Wage Act 1998" shall be substituted by the words "have the meanings given to them in the Employment Regulations 2015". (6) Paragraphs (b), (c) and (d) of subsection (4) of section 6 shall be omitted. (7) Paragraph (b) of subsection (5) of
section 6 shall be omitted.
(8) Subsections (2), (3) and (4) of
section 10 shall be omitted.
Trustee Act 2000 (Chapter 29) The whole Act, other than sections 7, 10, 27, 33, 34, 36, 37, 38, 40, 41, and 42, and Schedules 2, 3 and 4, which shall be omitted, and subject to the following modifications:
(1) Subsection (3) of section 6 shall be omitted.
(2) In subsection (1) of section 8, the words "freehold or leasehold" shall be omitted. (3) Subsection (2) of section 8 shall be omitted. (4) In paragraph (d) of subsection (3) of section 11, the words "an order made by the Secretary of State"

Attachment F shall be substituted by the words "rules made by the Board". (5) Subsection (5) of section 11 shall be omitted. (6) In subsection (1) of section 16, the words "(other than settled land)" shall be omitted. (7) Subsection (3) of section 16 shall be omitted. (8) Subsection (4) of section 17 shall be omitted. (9) Subsection (4) of section 18 shall be omitted. (10) Paragraph (c) of subsection (2) of
section 19 and subsection (4) of
that section shall be omitted.
(11) The words of subsection (3) of
section 19 shall be substituted by
the following words: "For the purposes of determining whether a body corporate is controlled by trustees, in relation to a body corporate ("company A"), "control" means the power of a person ("P") to secure - (a) by means of the holding of shares or the possession of voting power in relation to that or any other body corporate; or (b) as a result of any powers conferred by the articles of association or other document regulating that or any other body corporate, that the affairs of company A are conducted in accordance with P's wishes, and in relation to a partnership, "control" means the right to a share of more than half the assets, or of more than half the income, of the partnership.". (12) Subsection (4) of section 28 shall be omitted. (13) In subsection (3) of section 29, the words "and for the purposes of subsection (1) includes, in relation

Attachment F to the provision of services by a trustee who is a deposit taker and provides the services in that capacity, the deposit taker's reasonable charges for the provision of such services" shall be omitted. (14) Subsections (3A), (3B) and (3C) of
section 29 shall be omitted.
(15) In subsections (1) and (3) of
section 30, the words "Secretary of
State" shall be substituted by the word "Board" and the word "regulations" shall be substituted by the word "rules". (16) Subsection (4) of section 30 shall be omitted. (17) Subsections (3) and (4) of section 35 shall be omitted. (18) In subsection (1) of section 39, the definitions of "charitable trust", "custodian trustee", "enactment", "exempt charity", "legal mortgage", "personal representative" and "settled land" shall be omitted. Insurance Act 2015 (Chapter 4) The whole Act, subject to the following modifications:
(1) The term "contract of insurance" shall be replaced with "contract of marine insurance" throughout. (2) The term "contracts of insurance" shall be replaced with "contracts of marine insurance" throughout (3) The term "non-consumer insurance contract" shall be replaced with "contract of marine insurance" throughout. (4) The term "non-consumer insurance contracts" shall be replaced with "contracts of marine insurance" throughout. (5) In section 1: (i) the words "(apart from Part 6)" shall be omitted; (ii)

Attachment F the definitions of "consumer insurance contract" and "non￾consumer insurance contract" shall be omitted; and (iii) the words:
'"contract of marine insurance" has the same meaning as in the Marine Insurance Act 1906;' shall be inserted. (6) In section 14(2), the words "and the Consumer Insurance (Disclosure and Representations) Act 2012" shall be omitted. (7) Section 14(3)(b) shall be omitted. (8) Section 14(4) shall be omitted. (9) Section 15 shall be omitted. (10) In section 16A, the title of the
section shall be amended to:
"Contracting out of the implied term about payment of claims: contracts of marine insurance". (11) Section 16A(1) shall be omitted. (12) In section 18, the wording '"consumer C" means an individual who is one of the Cs, where the cover provided by the contract for that individual would have been a consumer insurance contract if entered into by that person rather than by A, and "non-consumer C" means any of the Cs who is not a consumer C' shall be omitted. (13) Section 18(2) shall be omitted. (14) In sections 18(3) and 18(4), the words "non-consumer C" shall be replaced with "C". (15) Part 6 shall be omitted. (16) Section 21(4) shall be omitted. (17) Section 21(5) shall be omitted. (18) Section 21(6) shall be omitted. (19) In section 23(2), the words "Part 6

Attachment F and" shall be omitted.
(20) Section 23(3) shall be omitted.
(21) In Schedule 1, paragraph 2, the words "which are non-consumer insurance contracts" shall be omitted. (22) Schedule 2 shall be omitted.