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The Insurers (Reorganisation and Winding Up) (Lloyd's) Regulations 2005
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- UK Statutory Instruments
- 2005 No. 1998
- PART 2
- Regulation 5
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The Insurers (Reorganisation and Winding Up) (Lloyd's) Regulations 2005, Section 5 is up to date with all changes known to be in force on or before 03 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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- Regulations revoked by 2023 c. 29 Sch. 1 Pt. 2
Objectives of a Lloyd's market reorganisation orderU.K.
This section has no associated Explanatory Memorandum
5. The objectives of a Lloyd's market reorganisation order are—
(a)to preserve or restore the financial situation of, or market confidence in, the association of underwriters known as Lloyd's in order to facilitate the carrying on of insurance market activities by members at Lloyd's;
(b)to assist in achieving an outcome that is in the interests of creditors of members, and insurance creditors in particular.
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