Regulation 6 Application for a Lloyd's market reorganisation order
(1) An application for a Lloyd's market reorganisation order may be made by the PRA or by the Society, or by both.
(1A) Before making an application under paragraph (1), the PRA must consult the FCA.
(2) If the application is made by only one of those bodies it must inform the other body of its intention to make the application as soon as possible, and in any event before the application is lodged at the court.
(3) The FCA, the PRA and the Society are entitled to be heard at the hearing of the application, regardless of which body makes the application.
(4) An application must clearly designate -
(a) any member, former member, managing agent, members' agent, Lloyd's broker, or approved run-off company to whom the order should not apply; and
(b) every coverholder to whom the order should apply.
(5) The applicant must give notice of the application by -