# The Insurance (Lloyd's) Regulations 1997, Paragraph 11


After paragraph 4 of Schedule 4 to the Insurance Companies Regulations 1994 insert—
“4A The aggregate arrived at under paragraph 4 shall be reduced by a flat-rate percentage determined by the Secretary of State in the light of the most recent statistical data on amounts recoverable from reinsurance between syndicates at Lloyd's.”

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Source: https://www.legislation.gov.uk/uksi/1997/686/schedule/1/paragraph/11 (the official version)
Page: https://openlegislation.uk/insurance-lloyds-regulations-1997/schedule-1/paragraph-11
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.