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Insurers (Reorganisation and Winding Up) (Lloyd's) Regulations 2005 [SI 2005 No. 1998]Introductory TextPart 1 General (regs. 1-2)Regulation 1 Citation and commencementRegulation 2 InterpretationPart 2 Lloyd's market reorganisation order (regs. 3-31)Regulation 3 Lloyd's market reorganisation orderRegulation 4 Condition for making orderRegulation 5 Objectives of a Lloyd's market reorganisation orderRegulation 6 Application for a Lloyd's market reorganisation orderRegulation 7 Powers of the courtRegulation 8 MoratoriumRegulation 9 Reorganisation controllerRegulation 10 Announcement of appointment of controllerRegulation 11 Market reorganisation planRegulation 12 Remuneration of the reorganisation controllerRegulation 13 Treatment of membersRegulation 14 Revocation of an order under regulation 13Regulation 15 Reorganisation controller's powers: voluntary arrangements in respect of a memberRegulation 16 Reorganisation controller's powers: individual voluntary arrangements in respect of a memberRegulation 17 Reorganisation controller's powers: trust deeds for creditors in ScotlandRegulation 18 Powers of reorganisation controller: section 899 compromise or arrangementRegulation 19 Appointment of an administrator, receiver or interim trustee in relation to a memberRegulation 20 Reorganisation controller's powers: administration orders in respect of membersRegulation 21 Reorganisation controller's powers: receivership in relation to membersRegulation 22 Syndicate set-offRegulation 23 Voluntary winding up of members: consent of reorganisation controllerRegulation 24 Voluntary winding up of members: powers of reorganisation controllerRegulation 25 Petition for winding up of a member by reorganisation controllerRegulation 26 Winding up of a member: powers of reorganisation controllerRegulation 27 Petition for bankruptcy of a member by reorganisation controllerRegulation 28 Bankruptcy of a member: powers of reorganisation controllerRegulation 29 Petition for winding up of the Society by reorganisation controllerRegulation 30 Winding up of the Society: service of petition etc. on reorganisation controllerRegulation 31 Payments from central fundsPart 3 Modification of law of insolvency: notification and publication (regs. 32-39)Regulation 32 Application of Parts 3 and 4Regulation 33 Notification of relevant decision to PRARegulation 34 Notification of relevant decision to EEA RegulatorsRegulation 35 Application of certain publication requirements in the principal Regulations to membersRegulation 36 Notification to creditors: winding up proceedings relating to membersRegulation 37 Submission of claims by EEA creditorRegulation 38 Reports to creditorsRegulation 39 Service of notices and documentsPart 4 Application of Parts 4 and 5 of the principal regulations (regs. 40-49)Regulation 40 Priority for insurance claimsRegulation 41 Treatment of liabilities arising in connection with a contract subject to reinsurance to closeRegulation 42 Assets of membersRegulation 43 Application of Part 4 of the principal Regulations: protection of settlementsRegulation 44 Challenge by reorganisation controller to conduct of insolvency practitionerRegulation 45 Application of Part 5 of the principal RegulationsRegulation 46 Modification of provisions in Part 5 of the principal RegulationsRegulation 47 Application of Part 5 of the principal Regulations: protection of dispositions etc. made before a Lloyd's market reorganisation order comes into forceRegulation 48 Non-EEA countriesRegulation 49 Amendment of principal RegulationsSignatureExplanatory NoteExplanatory Memorandum
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Version status: In force | Document consolidation status: Updated to reflect all known changes
Published date: 19 July 2005

Insurers (Reorganisation and Winding Up) (Lloyd's) Regulations 2005 [SI 2005 No. 1998]

To be revoked by s. 1 and Sch. 1 Pt 2 to the Financial Services and Markets Act 2023 (c. 29) (FSMA 2023), Sch. 1 Pt 2 not yet fully commenced.

Introductory Text
Part 1 General (regs. 1-2)
Regulation 1 Citation and commencement
Regulation 2 Interpretation
Part 2 Lloyd's market reorganisation order (regs. 3-31)
Regulation 3 Lloyd's market reorganisation order
Regulation 4 Condition for making order
Regulation 5 Objectives of a Lloyd's market reorganisation order
Regulation 6 Application for a Lloyd's market reorganisation order
Regulation 7 Powers of the court
Regulation 8 Moratorium
Regulation 9 Reorganisation controller
Regulation 10 Announcement of appointment of controller
Regulation 11 Market reorganisation plan
Regulation 12 Remuneration of the reorganisation controller
Regulation 13 Treatment of members
Regulation 14 Revocation of an order under regulation 13
Regulation 15 Reorganisation controller's powers: voluntary arrangements in respect of a member
Regulation 16 Reorganisation controller's powers: individual voluntary arrangements in respect of a member
Regulation 17 Reorganisation controller's powers: trust deeds for creditors in Scotland
Regulation 18 Powers of reorganisation controller: section 899 compromise or arrangement
Regulation 19 Appointment of an administrator, receiver or interim trustee in relation to a member
Regulation 20 Reorganisation controller's powers: administration orders in respect of members
Regulation 21 Reorganisation controller's powers: receivership in relation to members
Regulation 22 Syndicate set-off
Regulation 23 Voluntary winding up of members: consent of reorganisation controller
Regulation 24 Voluntary winding up of members: powers of reorganisation controller
Regulation 25 Petition for winding up of a member by reorganisation controller
Regulation 26 Winding up of a member: powers of reorganisation controller
Regulation 27 Petition for bankruptcy of a member by reorganisation controller
Regulation 28 Bankruptcy of a member: powers of reorganisation controller
Regulation 29 Petition for winding up of the Society by reorganisation controller
Regulation 30 Winding up of the Society: service of petition etc. on reorganisation controller
Regulation 31 Payments from central funds
Part 3 Modification of law of insolvency: notification and publication (regs. 32-39)
Regulation 32 Application of Parts 3 and 4
Regulation 33 Notification of relevant decision to PRA
Regulation 34 Notification of relevant decision to EEA Regulators
Regulation 35 Application of certain publication requirements in the principal Regulations to members
Regulation 36 Notification to creditors: winding up proceedings relating to members
Regulation 37 Submission of claims by EEA creditor
Regulation 38 Reports to creditors
Regulation 39 Service of notices and documents
Part 4 Application of Parts 4 and 5 of the principal regulations (regs. 40-49)
Regulation 40 Priority for insurance claims
Regulation 41 Treatment of liabilities arising in connection with a contract subject to reinsurance to close
Regulation 42 Assets of members
Regulation 43 Application of Part 4 of the principal Regulations: protection of settlements
Regulation 44 Challenge by reorganisation controller to conduct of insolvency practitioner
Regulation 45 Application of Part 5 of the principal Regulations
Regulation 46 Modification of provisions in Part 5 of the principal Regulations
Regulation 47 Application of Part 5 of the principal Regulations: protection of dispositions etc. made before a Lloyd's market reorganisation order comes into force
Regulation 48 Non-EEA countries
Regulation 49 Amendment of principal Regulations
Signature
Explanatory Note
Explanatory Memorandum
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