Regulation 2 Interpretation

In these Regulations—

• “accounting period” means—

  1. (a)

     in the case of a registered person, each period of three months ending on the dates notified to him by the Commissioners, whether by means of a certificate of registration issued by them or otherwise;

  2. (b)

     in the case of a registrable person who is not registered, each quarter; or

  3. (c)

     in the case of any registrable person, such other period in relation to which he is required by or under regulation 12 to make a return;

  and, in every case, the first accounting period of a registrable person shall commence on the effective date determined in accordance with section 53 of the Act upon which the person was or should have been registered;

• “the Act” means Part III of the Finance Act 1994

• “Collector” means a Collector, Deputy Collector or Assistant Collector of Customs and Excise

• “Lloyd's” means the society incorporated by section 3 of Lloyd’s Act 1871^f1;

• “managing agent” has the same meaning as in section 12(1) of Lloyd’s Act 1982^f2;

• “registered person” means a person who is registered under section 53 of the Act and, except in regulation 30, “register” and “registration” shall be construed accordingly;

• “registration number” means the unique identifying number allocated to a registered person and notified to him by the Commissioners;

• “return” means a return which is required to be made in accordance with regulation 12;

• “underwriting member” has the same meaning as in section 2(1) of Lloyd’s Act 1982.

Any reference in these Regulations to “this Part” is a reference to the Part of these Regulations in which that reference is made.

Any reference in these Regulations to a form prescribed in the Schedule to these Regulations shall include a reference to a form which the Commissioners are satisfied is a form to the like effect.