The Insurance Brokers Registration Council (Indemnity Insurance and Grants Scheme) Rules Approval Order 1987

2.—(1) In these Rules, unless the context otherwise requires:

“the Act” means the Insurance Brokers (Registration) Act 1977;

“the applicant” has the meaning assigned to it by rule 7(1);

“brokerage” means any remuneration originating from insurance broking business;

“business” means an insurance broking business or the insurance broking part of any other business or businesses;

“a grant” and “the Grants Scheme” have the meanings assigned to them by rule 6;

“the grantee” has the meaning assigned to it by rule 14(4);

“the Grants Fund” has the meaning assigned to it by rule 9(2);

“the insured”, “the insurer” and “the policy” have, for the purposes of Part II of these Rules, the meanings assigned to them by rule 3(1);

“a levy” and “the levy date” have the meanings assigned to them by rule 9;

“the maximum levy” has the meaning assigned to it by rule 11(1);

“partner” includes any person held out as a partner and “former partner” shall be construed accordingly;

“the registered address” means the address entered in the register or list in respect of the practising insurance broker or enrolled body corporate;

“the total actual levy” and “the total maximum levy” have the meanings assigned to them by rule 11(2).

(2) For the purposes of these Rules, unless the context otherwise requires, every business carried on by a partnership shall be deemed to be carried on jointly and severally by all the partners thereof and employees or former employees of a partnership shall be deemed to be employees or former employees of all the partners thereof jointly and severally.