The Industrial Assurance (Decimal Currency) Regulations 1970
These Regulations prescribe the method of converting into decimal currency payments falling due on or after 15th February 1971 under industrial assurance contracts and friendly society contracts with collecting societies, made before that date. They also enable an industrial assurance company or collecting society to adopt any special scheme approved by the Industrial Assurance Commissioner for the purpose of converting such payments into decimal currency and provide for the circumstances in which a special scheme may be approved.