Statutory Instrument 1996 No. 3011

The Insurance (Lloyd's) Regulations 1996

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© Crown Copyright 1996

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1996 No. 3011

INSURANCE

The Insurance (Lloyd's) Regulations 1996

The Secretary of State, being designated^[1] for the purposes of section 2(2) of the European Communities Act 1972^[2] in relation to the authorisation of the carrying on of insurance business and the regulation of such business and its conduct and in relation to anything supplemental or incidental to those matters, in exercise of the powers conferred by that section and by sections 83(4), 86, 96(1) and 97 of the Insurance Companies Act 1982^[3] hereby makes the following Regulations:—

Citation and commencement
    1.    These Regulations may be cited as the Insurance (Lloyd's) Regulations 1996 and shall come into force on 24th December 1996.

Interpretation
    2.    In these Regulations—

"the 1982 Act" means the Insurance Companies Act 1982;

"the 1983 Regulations" means the Insurance (Lloyd's) Regulations 1983^[4]; and

"former member" means a former underwriting member of Lloyd's (within the meaning of the Lloyd's Act 1982^[5]) who has ceased to be a member of Lloyd's, whether by resignation or otherwise, in accordance with the Lloyd's Act 1982 and any byelaw made thereunder.

[1] S.I. 1976/2141. back

[2] 1972 c. 68. back

[3] 1982 c. 50. back

[4] S.I. 1983/224, as amended by S.I. 1994/1516. back

[5] 1982 c. 14. back

Explanatory Note