s 92S
In forceReturn of security deposit
Part VIILloyd’s
Division 5Judicial trusteeship of designated security trust funds
92S Return of security deposit
(1)
If:
(a)
section 93 has ceased to have effect; and
(b)
APRA is satisfied that there are no outstanding liabilities of Lloyd’s underwriters that are covered by any designated security trust fund;
APRA must return to:
(c)
Lloyd’s; or
(d)
if a company nominated by Lloyd’s deposited securities with APRA under section 92Q—that company;
such of the securities lodged by Lloyd’s or that company, as the case may be, under section 92Q as have not been applied under section 92R.
(2)
In this section:
Lloyd’s underwriter includes:
(a)
a former Lloyd’s underwriter; and
(b)
the legal personal representative of a Lloyd’s underwriter or a former Lloyd’s underwriter.
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