Clause 19

by deleting paragraph (a) of subsection (1) and substituting the following paragraph:“(a)the Agency has paid compensation out of the PPF Life Fund or the PPF General Fund in accordance with this Act to —

any insured policy owner;

any trustee of a trust of an insured policy;

any beneficiary of an accidental death insurance cover; or

any combination of persons mentioned in sub‑paragraphs (i), (ii) and (iii);”; and

by inserting, immediately after subsection (3), the following subsection:“(4) In this section, a reference to the insured policy owner includes, where compensation has been paid by the Agency under section 48(2) to a person entitled to accidental death benefit under the terms of an accidental death insurance cover provided by a PPF Scheme member to a customer before the inception of an insured policy, the customer of the PPF Scheme member.”.