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 the United Kingdom or Gibraltar;

(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;

(c) that a copy of the resolution or the certificate has been give to the PRA and the FCA.