Insurance (Lloyd’s Asia Scheme) Regulations
Table of Contents
Part I PRELIMINARY
1 Citation
2 Definitions
Part II REQUIREMENTS RELATING TO AND DUTIES OF MEMBERS OF LLOYD’S CARRYING ON INSURANCE BUSINESS UNDER SCHEME
3 Conditions for carrying on insurance business under Lloyd’s Asia Scheme
4 Registration of member of Lloyd’s
Part III REQUIREMENTS RELATING TO AND DUTIES OF SERVICE COMPANIES
5 Requirements for Service Company
6 Registration of Service Company
6A Duties of Service Company
6B Cancellation of registration of Service Company
7 Officers of Service Company
8 Premises of Service Company
9 New policies
10 Duty to respond to notices and legal processes
11 Establishment and maintenance of separate insurance funds
12 Registers maintained by Service Company
13 Accounts and statement of Service Company
Part IIIA VALUATION OF ASSETS
13A Application of this Part
13B Valuation of assets
13C Equity securities
13D Debt securities
13E Land and buildings
13F Loans
13G Cash and deposits
13H Outstanding premiums and agents’ balances
13I Deposits withheld by cedants
13J Reinsurance recoverables
Part IIIB VALUATION OF LIABILITIES
13K Application of this Part
13L Valuation of liabilities
13M Valuation of liabilities of general business
Part IV REQUIREMENTS RELATING TO AND DUTIES OF ADMINISTRATOR
14 Responsibility of administrator
15 Officers of administrator
16 Duty to maintain deposits
17 (Deleted)
18 Registers
19 Duty of administrator to assist claimants
20 General obligations of administrator
21 Lodgment of returns and annual report by administrator
22 Annual fee
Part V MISCELLANEOUS
23 Inspection by public
24 Exemption
25 Lodgment and signature of returns and annual report
26 Deadlines for lodgment of returns
27 General obligation to furnish information
FIRST SCHEDULE
SECOND SCHEDULE
THIRD SCHEDULE
FOURTH SCHEDULE Particulars to be contained in register of Service Companies maintained by administrator
FIFTH SCHEDULE
Legislative History