10.2.211
CurrentLloyd’s
Chapter 10Repeals, transitional matters and application provisions
Part 10.2Transitional arrangements relating to Financial Services Reform legislation
Division 48Arrangements for Lloyd’s
10.2.211 Lloyd’s
(1)
For section 1444 of the Act, subsection 911A(1) of the Act does not apply in relation to a financial service:
(a)
that is provided by:
(i)
a Lloyd’s underwriting member; or
(ii)
a listed Lloyd’s syndicate of underwriting members; and
(b)
to which subregulation (2) applies.
(2)
The financial service must be a service in relation to which the Lloyd’s underwriting member, or the syndicate, is regulated by APRA at any time within 2 years after the FSR commencement.
(3)
In this regulation:
Lloyd’s means the society incorporated by the Act of the United Kingdom known as the Lloyd’s Act 1871.
This Act’s bill:Explanatory statement
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