{
  "url": "https://openlegislation.uk/insurance-accounts-directive-lloyds-syndicate-and-aggregate-accounts-regulations-2008/schedule-1/paragraph-7",
  "json_url": "https://openlegislation.uk/insurance-accounts-directive-lloyds-syndicate-and-aggregate-accounts-regulations-2008/schedule-1/paragraph-7.json",
  "legislation": "uksi/2008/1950",
  "legislation_title": "The Insurance Accounts Directive (Lloyd's Syndicate and Aggregate Accounts) Regulations 2008",
  "legislation_url": "https://openlegislation.uk/insurance-accounts-directive-lloyds-syndicate-and-aggregate-accounts-regulations-2008",
  "path": "schedule/1/paragraph/7",
  "kind": "paragraph",
  "number": "7",
  "heading": "Off-balance sheet arrangements",
  "text": "(1) If in any financial year—\n(a) a syndicate is or has been party to an arrangement that is not reflected in its balance sheet; and\n(b) at the balance sheet date the risks or benefits arising from that arrangement are material,\nthe information required by this paragraph must be given in notes to the syndicate's annual accounts.\n(2) The information required is—\n(a) the nature and business purpose of the arrangement; and\n(b) the financial impact of the arrangement on the syndicate.\n(3) The information need only be given to the extent necessary for enabling the financial position of the syndicate to be assessed.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2008/1950/schedule/1/paragraph/7",
    "retrieved_at": "2026-10-29T03:26:42.220384+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."
}