Citation and commencement _I1

1. This Order may be cited as the Financial Services and Markets Act 2000 (Control of Transfers of Business Done at Lloyd's) Order 2001 and comes into force on 1st December 2001.

Interpretation _{cross-notesI2,I3,I4,I5}

2. In this Order —

“the Act” means the Financial Services and Markets Act 2000;

“the Council” and “the Society” have the same meaning as in Lloyd’s Act 1982( 2 );

^F1 ...

3. The following provisions, that is to say—

(a) sections [^F2 103A ^F2] 104 and [^F3 107 to [^F4 113 ^F4,F3]] of the Act;

(b) any regulations made under section 108 of the Act; and

(c) Part I of Schedule 12 to the Act;

apply in relation to schemes for the transfer of the whole or any part of the business carried on by one or more [^F5 underwriting members of the Society or by one or more persons who have ceased to be such a member (whether before, on or after 24th December 1996) ^F5] (“the members concerned”) in the same way as they apply in relation to insurance business transfer schemes, but only if the conditions specified by article 4 are satisfied.

4. The conditions referred to in article 3 are—

(a) that the scheme results in the business transferred being carried on from an establishment of the transferee in [^F6 the United Kingdom or Gibraltar ^F6] ;

[^F7 (b) that the Council of Lloyd’s has—

(i) by resolution authorised one person to act, or

(ii) certified that one person has authority to act,

in connection with the transfer for the members concerned, as transferor; ^F7]

[^F8 (c) that a copy of the resolution or the certificate has been give to the [^F9PRA^F9][^F10 and the FCA^F10] . ^F8]

5. —(1) The provisions which apply by virtue of paragraph (a) and (b) of article 3 do so as if—

(a) ^F11 any reference to the authorised person concerned were a reference to the members concerned; ...

[^F12 (aa) the members concerned were authorised persons with permission to carry on the regulated activities of effecting a contract of insurance as principal and carrying out a contract of insurance as principal; and ^F12]

(b) anything done in connection with the transfer by the person authorised [^F13 , or the person certified to have authority, ^F13] in accordance with [^F14 paragraph (b) ^F14] of article 4 had been done by the members concerned for whom he acted.

^F15 (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[^F16 (2A)[^F17 Paragraph 2 of Part 1 of Schedule 12 ^F17] to the Act apply as if the members concerned were authorised persons with permission to carry on the regulated activities of effecting a contract of insurance as principal and carrying out a contract of insurance as principal. ^F16]

[^F18 (3) A transfer scheme carried out by virtue of this Order may transfer to an establishment of the transferee business written on different syndicates and in different years of account of syndicates. ^F18]