Corporations Regulations 2001

CHAPTER 10 - REPEALS, TRANSITIONAL MATTERS AND APPLICATION PROVISIONS  

PART 10.2 - TRANSITIONAL ARRANGEMENTS RELATING TO FINANCIAL SERVICES REFORM LEGISLATION  

Division 48 - Arrangements for Lloyd's  

REGULATION 10.2.211   LLOYD'S  

10.2.211(1)   [ Exemption]  

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.

10.2.211(2)   [ Regulated by APRA]  

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.

10.2.211(3)   [ ``Lloyd's'']  

In this regulation:

Lloyd's
means the society incorporated by the Act of the United Kingdom known as the Lloyd's Act 1871.