Transferees and assignees of policies not to become members
99. No transferee or assignee of a policy issued by an insurer to whom this Part applies shall become a member of a Mutual Insurance Company or a Co-operative 1[* * *] Insurance Society merely by reason of any such transfer or assignment.
The word “Life” was omitted by section 12 of the Insurance (Amendment) Ordinance, 1984 (Ordinance No. L of 1984)