Section 76 Modification of section 74 in relation to Lloyd'sI1

(1)

This section applies only if PRA-authorised persons include—

(a)

the Society, or

(b)

other persons who carry on regulated activities in relation to anything done at Lloyd's.

(2)

Section 74 has effect as if—

(a)

in subsection (1)(a) (and section 75(3)), the reference to a PRA-authorised person included a reference to a member of the Society,

(b)

in subsection (2)(a)(i), the reference to one or more PRA-authorised persons included a reference to the Society, and the members of the Society, taken together, and

(c)

in subsection (2)(a)(ii), the reference to a PRA-authorised person carrying on the activity of effecting and carrying out contracts of insurance included a reference to—

(i)

the Society, or

(ii)

any other person who carries on PRA-regulated activities in relation to anything done at Lloyd's.

(3)

In this section—

(a)

“PRA-regulated activity” is to be read in accordance with section 22A of FSMA 2000, and

(b)

terms which are defined in Lloyd's Act 1982 have the same meaning as in that Act.

Annotations

Commencement

I1: S. 76 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.