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Financial Services and Markets Act 2000
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322Rules applicable to former underwriting members
This section has no associated Explanatory Notes
(1)The Authority may make rules imposing such requirements on persons to whom the rules apply as appear to it to be appropriate for protecting policyholders against the risk that those persons may not be able to meet their liabilities.
(2)The rules may apply to—
(a)former underwriting members generally; or
(b)to a class of former underwriting member specified in them.
(3)Section 319 applies to the making of proposed rules under this section as it applies to the giving of a proposed direction under section 316.
(4)Part X (except sections 152 to 154) does not apply to rules made under this section.
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