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group policy

    11a non-investment insurance contract which a person enters into as legal holder of the policy on his own behalf and for other persons who are or will become policyholders and:

      1. (a) those other persons are or become policyholders by virtue of a common employment, occupation or activity which has arisen independently of the contract of insurance;
      1. (b) the common employment, occupation or activity is not brought about, in relation to the contract of insurance, by
        1. (i) the insurance undertaking which effects it or carries it out; or
        1. (ii) any activity which if carried on by a firm would be an insurance mediation activity; and
      1. (c) the risks insured under the policy are related to the common employment, occupation or activity of the policyholders.