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Statutory Instruments

2008 No. 1950

Insurance

The Insurance Accounts Directive (Lloyd’s Syndicate and Aggregate Accounts) Regulations 2008

Made

22nd July 2008

Laid before Parliament

22nd July 2008

Coming into force

15th August 2008

Contents

Go to Preamble

  1. PART 1

    GENERAL

    1. 1.Citation, commencement and application

    2. 2.Interpretation

    3. 3.Senior Statutory Auditor

    4. 4.Summary proceedings

  2. PART 2

    SYNDICATE ACCOUNTS

    1. 5.Preparation of syndicate’s annual accounts

    2. 6.Preparation of syndicate underwriting year accounts

    3. 7.Approval and signing of accounts

    4. 8.Accounts to be sent to syndicate members, the Council of Lloyd’s and the Authority

    5. 9.Publication of syndicate accounts and reports

    6. 10.Auditor’s report

    7. 11.Duties of auditors

    8. 12.Signature of auditor’s report

    9. 13.Names to be stated in copies of auditor’s report published or filed

    10. 14.Circumstances in which names may be omitted

    11. 15.Requirements in connection with publication of statutory accounts

    12. 16.Delivery and publication of accounts in euros

    13. 17.Penalties for non-compliance

  3. PART 3

    AGGREGATE ACCOUNTS

    1. 18.Preparation of aggregate accounts by Council of Lloyd’s

    2. 19.Approval and signing of aggregate accounts

    3. 20.Preparation of annual report by the Council of Lloyd’s

    4. 21.Approval and signing of annual report

    5. 22.Auditor’s report

    6. 23.Signature of auditor’s report

    7. 24.Names to be stated in copies of auditor’s report published or filed

    8. 25.Circumstances in which names may be omitted

    9. 26.Duties of auditors

    10. 27.Aggregate accounts and annual report of Council to be delivered to the Authority and published

    11. 28.Penalties for non-compliance

  4. PART 4

    Regulation by the Authority

    1. 29.Functions of the Authority

  5. PART 5

    Revocation and consequential provision

    1. 30.Revocation

    2. 31.Consequential amendment

  6. SCHEDULE 1

    SYNDICATE ACCOUNTS

  7. SCHEDULE 2

    AUDITOR’S REMUNERATION

  8. SCHEDULE 3

    PROVISIONS APPLYING TO AGGREGATE ACCOUNTS

Go to Explanatory Note

The Treasury, being a government department 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, in exercise of the powers conferred on them by that section, make the following Regulations:

(1)

S.I. 1997/2781. Back [1]

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