Regulation 3 Rights of action

after paragraph (3)(c) insert—

“(d)

the rule that has been contravened requires a relevant authorised person to respond to a claim for compensation within a specified time limit, or to pay interest in specified circumstances in respect of any such claim.”;

and

for paragraph (4) substitute—

“(4)

In this regulation—

(a)

“relevant authorised person” means an authorised person with a Part IV permission—

(i)

to effect or to carry out relevant contracts of insurance; or

(ii)

to manage the underwriting capacity of a Lloyd’s syndicate as a managing agent, the members of which effect or carry out relevant contracts of insurance underwritten at Lloyd’s;

where a “relevant contract of insurance” means a contract of insurance against damage arising out of or in connection with the use of motor vehicles on land (other than carrier’s liability);

(b)

“rule” has the meaning given by section 150(4) of the Act; and

(c)

“specified” means specified in rules.”