Report No. 21
22. Voyage and time policy.-
(1) Where the contract is to insure the subject-matter "at and from", or from one place to another or others, the policy is called a "voyage policy", and where the contract is to insure the subject-matter for a definite period of time, the policy is called a "time policy". A contract for both voyage and time may be included in the same policy.
(2) A time policy which is made for any time exceeding twelve months is invalid.1
2. The English Act contains the words "Subject to the provisions of section eleven of the Finance Act, 1901". The 1901 Act deals with continuation clause, and there is no such provision in the Indian Statute Law (Stamp Act). Hence there it no point in mentioning the Indian Stamp Act in the clause.
[Cf. section 25, English Act]