s 7 Certain conditions in policies or securities to be of no effect
7.—(1) Any condition in a policy or security issued or given for the purposes of this Act providing that no liability arises under the policy or security or that any liability so arising ceases in the event of some specified thing being done or omitted to be done after the happening of the event giving rise to a claim under the policy or security is of no effect in connection with such claims as are mentioned in section 4(1)(b). (2) Nothing in this section is taken to render void any provision in a policy or security requiring the person insured or secured to repay to the insurer or the giver of the security any sums which the latter may have become liable to pay under the policy or security and which have been applied to the satisfaction of the claims of third parties.