{
  "url": "https://openlegislation.uk/finance-act-2002/schedule-32/paragraph-9",
  "json_url": "https://openlegislation.uk/finance-act-2002/schedule-32/paragraph-9.json",
  "legislation": "ukpga/2002/23",
  "legislation_title": "Finance Act 2002",
  "legislation_url": "https://openlegislation.uk/finance-act-2002",
  "path": "schedule/32/paragraph/9",
  "kind": "paragraph",
  "number": "9",
  "heading": null,
  "text": "For subsection (4) of that section substitute—\n“(4) In this section—\n“apportioned part”, in relation to any insurance money or other amount, means a part apportioned under section 72 of the Taxes Act 1988;\n“cash call” means a request for funds which, in pursuance of a contract made in accordance with the rules and practices of Lloyd’s, is made to a corporate member by the agent of a syndicate of which it is a member;\n“quota share contract” means any contract between a corporate member and another person which—\n(a)is made in accordance with the rules or practice of Lloyd’s; and\n(b)provides for that other person to take over any rights and liabilities of the member under any of the syndicates of which it is a member;\nand where the taking over of a member’s rights and liabilities is conditional upon the occurrence of any event, the contract does not take effect until that event occurs; and\n“transferred loss”, in relation to such a contract, means a loss for which that other person takes over liability under the contract (disregarding, in the case of a loss that has been declared at the time it is taken over, any part of it in respect of which the member has paid a cash call before that time).”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2002/23/schedule/32/paragraph/9",
    "retrieved_at": "2026-10-29T09:19:27.148984+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}