International Insurance and Takaful Order, 2002 · s 56

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56.
Certain transfers excluded
(1)
The protection provided by this Part does not apply to a debt of the insured or beneficiary secured by a pledge, assignment or mortgage of the policy or its proceeds.
(2)
This Part does not prevent the proper assignment of any money or benefits to be paid or rendered under a policy to which this Part applies, or any rights under the policy in favour of any person in accordance with the terms of the policy or contract.
(3)
Wherever any long-term policy shall contain a provision against assignment or commutation by any person entitled to a benefit thereunder of any benefits to be paid or rendered thereunder, or any rights therein, any assignment or commutation or any attempted assignment or commutation by such person of , such benefits in violation of such provision shall be void.
(4)
The exemptions and protection under this Part are in addition to the exemptions from execution, attachment, garnishee order and other process under this Order or under any other written law.

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s 56Certain transfers excluded

(1)

The protection provided by this Part does not apply to a debt of the insured or beneficiary secured by a pledge, assignment or mortgage of the policy or its proceeds.

(2)

This Part does not prevent the proper assignment of any money or benefits to be paid or rendered under a policy to which this Part applies, or any rights under the policy in favour of any person in accordance with the terms of the policy or contract.

(3)

Wherever any long-term policy shall contain a provision against assignment or commutation by any person entitled to a benefit thereunder of any benefits to be paid or rendered thereunder, or any rights therein, any assignment or commutation or any attempted assignment or commutation by such person of , such benefits in violation of such provision shall be void.

(4)

The exemptions and protection under this Part are in addition to the exemptions from execution, attachment, garnishee order and other process under this Order or under any other written law.