Proposed drafting of provision to be inserted:
Financial Services and Markets
|Power to amend|
Lloyd's Acts 1871
|194A(1) The Treasury may, on the written application of the Society, by order amend any provision of the Lloyd's Acts 1871 to 1982 which concerns or relates to the regulation of any activities carried on at Lloyd's.
|(2) The power to make an order under subsection (1) shall be exercisable for the purpose of giving effect to any proposals of the Society which|
(a) are contained in the application; and
(b) have been approved by the Authority.