PART 2LLOYD'S MARKET REORGANISATION ORDER
Lloyd's market reorganisation order3
1
In these Regulations “Lloyd's market reorganisation order” means an order which—
a
is made by the court in relation to the association of underwriters known as Lloyd's;
b
appoints a reorganisation controller; and
c
on the making of which there comes into force a moratorium on the commencement of—
i
proceedings, or
ii
other legal processes
set out in regulation 8 in respect of affected market participants, the Society and subsidiaries of the Society.
2
A Lloyd's market reorganisation order applies to—
a
every member, former member, managing agent, members' agent, Lloyd's broker and approved run-off company who has not been excluded from the order in accordance with regulation 7;
b
every coverholder who has been included in the order in accordance with regulation 7;
c
the Society; and
d
subsidiaries of the Society.