{
  "url": "https://openlegislation.uk/insurers-reorganisation-and-winding-up-lloyds-regulations-2005/regulation-4",
  "json_url": "https://openlegislation.uk/insurers-reorganisation-and-winding-up-lloyds-regulations-2005/regulation-4.json",
  "legislation": "uksi/2005/1998",
  "legislation_title": "The Insurers (Reorganisation and Winding Up) (Lloyd's) Regulations 2005",
  "legislation_url": "https://openlegislation.uk/insurers-reorganisation-and-winding-up-lloyds-regulations-2005",
  "path": "regulation/4",
  "kind": "regulation",
  "number": "4",
  "heading": "Condition for making order",
  "text": "(1) The court may make a Lloyd's market reorganisation order if it is satisfied that—\n(a) any regulatory solvency requirement is not, or may not be, met; and\n(b) an order is likely to achieve one or both of the objectives in regulation 5.\n(2) In paragraph (1), “regulatory solvency requirement” means a requirement to maintain adequate financial resources in respect of insurance business at Lloyd's, imposed under the 2000 Act, whether on a member or former underwriting member, either singly or together with other members or former underwriting members, or on the Society and includes a requirement to maintain a margin of solvency.\n(3) In paragraph (2), “former underwriting member” has the meaning given by section 324(1) of the 2000 Act.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2005/1998/regulation/4",
    "retrieved_at": "2026-10-29T04:55:38.752001+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."
}