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The Credit Institutions and Insurance Undertakings Reorganisation and Winding Up (Amendment) (EU Exit) Regulations 2019

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Amendment of the Insurers (Reorganisation and Winding Up (Lloyd’s) Regulations 2005

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4.—(1) The Insurers (Reorganisation and Winding Up) (Lloyd’s) Regulations 2005(1) are amended as follows.

(2) In regulation 2 (interpretation), in paragraph (1)—

(a)in the definition of “the association of underwriters known as Lloyd’s” at the end insert “, as it had effect immediately before exit day”; and

(b)in the definition of “overseas insurance business” for “that is not or is not part of an EEA State” substitute “other than the United Kingdom”.

(3) In regulation 10 (announcement of appointment of controller) omit paragraph (2).

(4) Omit the following regulations—

(a)regulation 34 (notification of relevant decision to EEA Regulators);

(b)regulation 35 (application of certain publication requirements in the principal Regulations to members);

(c)regulation 36 (notification to creditors: winding up proceedings relating to members); and

(d)regulation 37 (submission of claims by EEA creditor).

(5) In regulation 39 (service of notices and documents)—

(a)in paragraph (1) for “regulations 33 to 35” substitute “regulation 33”; and

(b)in paragraph (3) for “regulations 33 to 37 above” substitute “regulation 33”.

(6) In regulation 45 (application of Part 5 of the principal Regulations), in paragraph (1) omit “: recognition of EEA rights)”.

(7) In regulation 46 (modification of provisions in Part 5 of the principal Regulations)—

(a)in paragraph (4), in the opening words (the reference to regulation 37 of the principal Regulations) omit “EEA rights:”; and

(b)omit paragraph (5).

(8) In regulation 48 (non-EEA countries) for “the EEA” substitute “the United Kingdom”.

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