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.