Regulation 7 Requirements for Lloyd’s underwriters

After section 85(4) of the 1982 Act^f1 (Lloyd’s underwriters—transfer of business) insert—

“(5)

In this section references to a member of Lloyd’s include references to a former underwriting member of Lloyd’s (within the meaning of the Lloyd’s Act 1982) who has ceased to be a member of Lloyd's, whether by resignation or otherwise, in accordance with the Lloyd’s Act 1982 and any byelaw made thereunder.”