Regulations 18(6), (7) and 20

Disclosure required in notes to accounts: off-balance sheet arrangements

1.

(1) If for any financial year -

(a) a syndicate has noted in its annual accounts that it is or has been party to an arrangement that is not reflected in its balance sheet; and

(b) at the balance sheet date the risks or benefits arising from that arrangement are material,

the information required by this paragraph must be given in notes to the aggregate accounts.

(2) The information required is -

(a) the nature and business purpose of the arrangement; and

(b) the financial impact of the arrangement on the syndicate.

(3) The information need only be given to the extent necessary for enabling the financial position of the Lloyd's market to be assessed.

Annual report: general requirements

2.

(1) The annual report on a financial year required by regulation 20 must state -