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7. After section 85(4) of the 1982 Act(1) (Lloyd’s underwriters—transfer of business) insert—
“(5) In this section references to a member of Lloyd’s include references to a former underwriting member of Lloyd’s (within the meaning of the Lloyd’s Act 1982) 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.”
Section 85(4) was added by S.I. 1994/1696, reg. 48(2).
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