Paragraph 7

for subsection (1) substitute the following—

“(1)

A syndicate’s accounts shall be approved and signed by the syndicate’s managing agent and where the managing agent is a body corporate or a partnership the accounts must be signed by a director or partner of the managing agent, authorised to sign on its behalf.”;

for subsection (3) substitute the following—

“(3)

Every copy of the balance sheet which is circulated published, issued or delivered to the Authority must state the name of the person who signed the balance sheet on behalf of the syndicate’s managing agent.”; and

subsection (5) is omitted.