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The Insurance (Lloyd's) Regulations 1996
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10.—(1) It is immaterial for the purposes of regulation 3(1)(a) when a former member ceased to be a member of Lloyd's; but regulations 3(1)(b) and 4 do not apply to a former member whose membership ceased before the day on which these Regulations come into force.
(2) Regulations 6, 8 and 9 apply in relation to the 12 months ending on 31st December 1996, as well as subsequent years.
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