The Insurance Companies (Third Insurance Directives) Regulations 1994

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.