92S

Return of security deposit

In force

(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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