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The Insurance Companies (Third Insurance Directives) Regulations 1994

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Lloyd’s underwriters

48.—(1) In section 83A of the 1982 Act(1) (Lloyd’s underwriters: insurance Directives)—

(a)after the words “Secretary of State” insert the words “which are exercisable in relation to UK companies”; and

(b)for the words from “giving effect” to the end substitute the words

which—

(a)gives effect to the general and long term insurance Directives; or

(b)is applicable to the insurance activities of Lloyd’s in that State.

(2) In section 85 of that Act (Lloyd’s underwriters: transfers of business)—

(a)in subsection (1), for the words “sections 49 to 52 above” substitute the words “Schedule 2C to this Act”;

(b)in subsection (3), for the words “sections 49 and 50 or sections 51 and 52 above” substitute the words “the provisions of Part I or II of Schedule 2C to this Act” and for paragraph (a) substitute—

(a)references to a ‘UK company’ included references to members of Lloyd's;; and

(c)after subsection (3) insert—

(4) Section 52A above shall apply as if the reference in subsection (1) to a UK company included a reference to members of Lloyd's.

(1)

Section 83A was inserted by S.I. 1992/2890, reg 8 and amended by S.I.1993/174, reg 2.

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