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(1)The Authority must keep itself informed about—
(a)the way in which the Council supervises and regulates the market at Lloyd’s; and
(b)the way in which regulated activities are being carried on in that market.
(2)The Authority must keep under review the desirability of exercising—
(a)any of its powers under this Part;
(b)any powers which it has in relation to the Society as a result of section 315.