{
  "url": "https://openlegislation.uk/insurance-lloyds-regulations-1997/schedule-1/paragraph-3",
  "json_url": "https://openlegislation.uk/insurance-lloyds-regulations-1997/schedule-1/paragraph-3.json",
  "legislation": "uksi/1997/686",
  "legislation_title": "The Insurance (Lloyd's) Regulations 1997",
  "legislation_url": "https://openlegislation.uk/insurance-lloyds-regulations-1997",
  "path": "schedule/1/paragraph/3",
  "kind": "paragraph",
  "number": "3",
  "heading": null,
  "text": "The prescribed surplus of a member of Lloyd’s shall be the amount of the margin of solvency which the member would be required to maintain under section 32 of the Act if the member were a UK company (within the meaning of section 5 of the Act) and the required margin of solvency were determined in accordance with regulation 17 of, and Schedules 3 and 4 to, the Insurance Companies Regulations 1994 (the “1994 Regulations”) as modified by paragraphs 5 to 13 below.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1997/686/schedule/1/paragraph/3",
    "retrieved_at": "2026-10-29T12:22:25.804486+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."
}