Financial Markets Conduct Act 2013

Licensing and other regulation of market services - Miscellaneous provisions - Requirements relating to exemption for Lloyd’s underwriters

449A: Lloyd’s, Lloyd’s underwriter, or Lloyd’s managing agent must comply with term or condition of licensing exemption for Lloyd’s underwriters

You could also call this:

"Lloyd's and its agents must follow the rules to be exempt from a licence."

Illustration for Financial Markets Conduct Act 2013

If you are Lloyd's, a Lloyd's underwriter, or a Lloyd's managing agent, you must follow the rules set by the section 546(1)(cb) exemption. You have to comply with any requirements that apply to you. This means you must do what the rules say if they impose a requirement on you.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS1428663.


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Part 6Licensing and other regulation of market services
Miscellaneous provisions: Requirements relating to exemption for Lloyd’s underwriters

449ALloyd’s, Lloyd’s underwriter, or Lloyd’s managing agent must comply with term or condition of licensing exemption for Lloyd’s underwriters

  1. If a term or condition prescribed under section 546(1)(cb) imposes a requirement on Lloyd’s, a Lloyd’s underwriter, or a Lloyd’s managing agent, Lloyd’s, the Lloyd’s underwriter, or the Lloyd’s managing agent (as the case may be) must comply with the requirement.

Notes
  • Section 449A: inserted, on , by section 14 of the Financial Markets (Conduct of Institutions) Amendment Act 2022 (2022 No 36).