315The Society: authorisation and permission
(1)The Society is an authorised person.
(2)The Society has permission to carry on a regulated activity of any of the following kinds—
(a)arranging deals in contracts of insurance written at Lloyd’s (“the basic market activity”);
(b)arranging deals in participation in Lloyd’s syndicates (“the secondary market activity”); and
(c)an activity carried on in connection with, or for the purposes of, the basic or secondary market activity.
(3)For the purposes of Part IV, the Society’s permission is to be treated as if it had been given on an application for permission under that Part.
(4)The power conferred on the Authority by section 45 may be exercised in anticipation of the coming into force of the Society’s permission (or at any other time).
(5)The Society is not subject to any requirement of this Act concerning the registered office of a body corporate.