PART 5

Inquiries and investigations

Investigations

Modification of section 74 in relation to Lloyd's
76
1
This section applies only if PRA-authorised persons include—
a
the Society, or
b
other persons who carry on regulated activities in relation to anything done at Lloyd's.
2
Section 74 has effect as if—
a
in subsection (1)(a) (and section 75(3)), the reference to a PRA-authorised person included a reference to a member of the Society,
b
in subsection (2)(a)(i), the reference to one or more PRA-authorised persons included a reference to the Society, and the members of the Society, taken together, and
c
in subsection (2)(a)(ii), the reference to a PRA-authorised person carrying on the activity of effecting and carrying out contracts of insurance included a reference to—
i
the Society, or
ii
any other person who carries on PRA-regulated activities in relation to anything done at Lloyd's.
3
In this section—
a
“PRA-regulated activity” is to be read in accordance with section 22A of FSMA 2000, and
b
terms which are defined in Lloyd's Act 1982 have the same meaning as in that Act.