Regulation 11 Profits and losses arising after death of member before 6th April 1994
For the purposes of the provisions of Chapter III other than Schedule 20, where—
the death of a member occurred before 6th April 1994;
the member’s deposit at Lloyd's, if paid over to him or his personal representatives or assigns, was not paid over prior to 1st January 1993; and
income arises to, or expenses are incurred or paid by, his personal representatives after his death from the carrying on by them of the member’s underwriting business in circumstances where the income or expenses would have been taken into account, by virtue of those provisions, in computing the profits or losses arising to the member from his underwriting business had they arisen or been incurred or paid prior to his death,
the income and expenses shall be regarded as arising to, or incurred or paid by, the member and are accordingly to be taken into account in computing profits or losses arising to the member from his underwriting business for the purposes of those provisions.