# The Financial Services and Markets Act 2000 (Transitional Provisions) (Authorised Persons etc. ) Order 2001, Article 43: Requirements imposed on former Lloyd’s underwriting members

Extent: E+W+S+N.I.

(1) This article applies to a former member of Lloyd’s who, immediately before commencement, was treated by virtue of regulation 3(1)(b) of the Insurance (Lloyd's) Regulations 1996 as if he were a UK company to which Part II of the Insurance Companies Act applied.
(2) Where immediately before commencement, a person to whom this article applies was subject to a requirement imposed under section 45 of the Insurance Companies Act in respect of any liability of his under contracts of insurance entered into by him as a member of Lloyd's, that requirement takes effect after commencement as if it were a requirement imposed on him under section 320(3) (whether or not he is a former underwriting member for the purposes of that section).

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Source: https://www.legislation.gov.uk/uksi/2001/2636/article/43 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-transitional-provisions-authorised-persons-etc-order-2001/article-43
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.