Regulation 8 Lloyd’s underwriters

In Part IV of the 1982 Act (special classes of insurers), after section 83 insert—

“Lloyd’s underwriters— insurance Directives.

83A

The powers conferred on the Secretary of State 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 State giving effect to the general insurance Directives.”.