PART 9Lloyd’s
Former underwriting members44
1
Paragraph (2) applies in respect of a requirement imposed by the Authority under section 320(3)64 (former underwriting members) if the requirement had effect immediately before the commencement date.
2
The requirement is to be treated as if it had been imposed by the PRA.
3
This article does not apply in the event that the activity of effecting or carrying out contracts of insurance as principal is not to any extent a PRA-regulated activity.