41Exclusion of amounts of deposit or progress payment

41 Exclusion of amounts of deposit or progress payment

41 Exclusion of amounts of deposit or progress payment

Despite clauses 40 and 40A, an insurance contract may contain a provision that excludes the insurer from liability for the amount of any part of—

(a) a deposit that exceeds the amount permitted for such a deposit by section 8 of the Act, or

(b) on and from 1 March 2015—a progress payment that exceeds the amount permitted for such a payment by section 8A of the Act, or

(c) if a deposit has not been paid, the amount of the deposit.

cl 41: Am 2017 (705), Sch 1 [10].