sec.114Termination of s 97(5) inducement

### sec.114 Termination of s 97(5) inducement This section applies if— before 1 October 2010, a licensed insurer, or other person acting for a licensed insurer, offered to give to a person an inducement to enter into or renew an insurance policy; and the offer would be prohibited under section 97(5) if made on or after 1 October 2010; and the inducement would, apart from this section, under the provisions of the arrangement relating to the offer, be given on or after 1 October 2010 to the person to whom the offer was made. The arrangement relating to the offer, to the extent it provides for the inducement, is terminated and is void and unenforceable. The licensed insurer, or other person acting for the licensed insurer, is taken not to be in breach of the arrangement for failing to give the inducement to the person to whom the offer was made. In this section— arrangement includes contract and agreement. s 114 ins 2010 No. 32 s 14 (sec.114-ssec.1) This section applies if— before 1 October 2010, a licensed insurer, or other person acting for a licensed insurer, offered to give to a person an inducement to enter into or renew an insurance policy; and the offer would be prohibited under section 97(5) if made on or after 1 October 2010; and the inducement would, apart from this section, under the provisions of the arrangement relating to the offer, be given on or after 1 October 2010 to the person to whom the offer was made. (sec.114-ssec.2) The arrangement relating to the offer, to the extent it provides for the inducement, is terminated and is void and unenforceable. (sec.114-ssec.3) The licensed insurer, or other person acting for the licensed insurer, is taken not to be in breach of the arrangement for failing to give the inducement to the person to whom the offer was made. (sec.114-ssec.4) In this section— arrangement includes contract and agreement. - (a) before 1 October 2010, a licensed insurer, or other person acting for a licensed insurer, offered to give to a person an inducement to enter into or renew an insurance policy; and - (b) the offer would be prohibited under section 97(5) if made on or after 1 October 2010; and - (c) the inducement would, apart from this section, under the provisions of the arrangement relating to the offer, be given on or after 1 October 2010 to the person to whom the offer was made.