6(1)Where a non-resident company is a member of Lloyd’s and the transaction is carried out in the course of the company’s underwriting business, a person who acts on behalf of the company in relation to the transaction is regarded as an independent agent acting in the ordinary course of his business if he acts as members' agent or as managing agent of the syndicate in question.U.K.
(2)In sub-paragraph (1)—
(a)the reference to the non-resident company being a member of Lloyd’s is to its being a corporate member within the meaning of Chapter 5 of Part 4 of the Finance Act 1994 (c. 9); and
(b)the references to a members' agent and to a managing agent shall be construed in accordance with section 230 of that Act.