Prospective
(1)The Secretary of State may, from time to time, by regulations prescribe a number to be a target number for the purposes of regulations under section 70.
(2)A target number is the number of registered premises to be covered against a prescribed description of risk by insurance policies issued in a prescribed period by those relevant insurers upon whom obligations are imposed by regulations under section 70.
(3)The regulations may prescribe different target numbers for different descriptions of risk.
(4)The regulations may in particular provide for a target number to be expressed as a percentage of the number of registered premises.
(5)The regulations may, at any one time, prescribe target numbers for two or more consecutive prescribed periods.
(6)In this section “prescribed” means specified in or determined in accordance with regulations under this section.