Commonwealth Consolidated Regulations

CORPORATIONS REGULATIONS 2001 - REG 10.2.211

             (1)  For section 1444 of the Act, subsection 911A(1) of the Act does not apply in relation to a financial service:

                     (a)  that is provided by:

                              (i)  a Lloyd's underwriting member; or

                             (ii)  a listed Lloyd's syndicate of underwriting members; and

                     (b)  to which subregulation (2) applies.

             (2)  The financial service must be a service in relation to which the Lloyd's underwriting member, or the syndicate, is regulated by APRA at any time within 2 years after the FSR commencement.

             (3)  In this regulation:

"Lloyd's" means the society incorporated by the Act of the United Kingdom known as the Lloyd's Act 1871.