{
  "url": "https://openlegislation.uk/insurance-brokers-registration-council-indemnity-insurance-and-grants-scheme-amendment-rules-approval-order-1990/schedule/paragraph-7",
  "json_url": "https://openlegislation.uk/insurance-brokers-registration-council-indemnity-insurance-and-grants-scheme-amendment-rules-approval-order-1990/schedule/paragraph-7.json",
  "legislation": "uksi/1990/2461",
  "legislation_title": "The Insurance Brokers Registration Council (Indemnity Insurance and Grants Scheme) (Amendment) Rules Approval Order 1990",
  "legislation_url": "https://openlegislation.uk/insurance-brokers-registration-council-indemnity-insurance-and-grants-scheme-amendment-rules-approval-order-1990",
  "path": "schedule/paragraph/7",
  "kind": "paragraph",
  "number": "7",
  "heading": null,
  "text": "Rule 8 of the Rules shall be amended by the insertion of “(1)” at the commencement of the rule and by the insertion of the following new paragraph:—\n“(2) Notwithstanding the provisions of rules 6 and 7 of these rules the Council shall in their absolute discretion be entitled to make a grant or grants under the Grants Scheme to any person to relieve or mitigate losses suffered by such person in consequence of negligence or fraud or other dishonesty on the part of practising insurance brokers or enrolled bodies corporate, or of employees of theirs, in connection with their investment business as defined by Section 1(2) of the Financial Services Act 1986 or the failure on the part of practising insurance brokers or enrolled bodies corporate to account for monies received by them in connection with such business as the Council may decide in all the circumstances. ”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1990/2461/schedule/paragraph/7",
    "retrieved_at": "2026-10-29T14:55:38.463644+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."
}