Section 83A Lloyd’s underwriters— insurance Directives.F1C1
United Kingdom
The powers conferred on F2the Treasury orthe Secretary of State F3which are exercisable in relation to UK companies by sections 38 to 41, 44 and 45 above shall be exercisable in relation to the members of Lloyd’s if there is a failure by Lloyd’s to satisfy an obligation to which it is subject by virtue of any provision of the law of another member StateF4which—.
gives effect to the general and long term insurance Directives; or
is applicable to the insurance activities of Lloyd’s in that State
Annotations
Textual amendments
- F1
S. 83A inserted (19.11.1992) by S.I. 1992/2890, reg. 8.
- F2
Words in s. 83A inserted (5.1.1998) by S.I. 1997/2781, art. 8(1), Sch. Pt. I para. 46 (with art. 7)
- F3
Words in s. 83A inserted (1.7.1994) by S.I. 1994/1696, reg. 48(1(a)
- F4
S. 83A(a)(b) and preceeding word “which” substituted words in s. 83A (1.7.1994) by S.I. 1994/1696, reg. 48(1)(b)
Modifications
- C1
S. 83A: power to contract out certain functions conferred (18.11.1998) by S.I. 1998/2842, arts. 2, 3, Sch. Pt. I para. 52
Notes on the whole Act
Textual amendments
- F1
Act repealed (1.12.2001) by The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001 (S.I. 2001/3649), arts. 1, 3(1)(b)