[F183A Lloyd’s underwriters— insurance Directives.U.K.
The powers conferred on the Secretary of State [F2which are exercisable in relation to UK companies] by sections 38 to 41, 44 and 45 above shall be exercisable in relation to the members of Lloyd’s if there is a failure by Lloyd’s to satisfy an obligation to which it is subject by virtue of any provision of the law of another member State][F3which—.
(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]
Textual Amendments
F1S. 83A inserted (19.11.1992) by S.I. 1992/2890, reg. 8.
F2Words in s. 83A inserted (1.7.1994) by S.I. 1994/1696, reg. 48(1(a)
F3S. 83A(a)(b) and preceeding word “which” substituted for words in s. 83A (1.7.1994) by S.I. 1994/1696, reg. 48(1)(b)