# The Insurance (Lloyd's) Regulations 1997, Paragraph 3


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.

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Source: https://www.legislation.gov.uk/uksi/1997/686/schedule/1/paragraph/3 (the official version)
Page: https://openlegislation.uk/insurance-lloyds-regulations-1997/schedule-1/paragraph-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.