Regulatory Reform - Sixth Report
Here you can browse the report together with the Proceedings of the Committee. The published report was ordered by the House of Commons to be printed 14 October 2008.
Contents
Terms of Reference
Summary
1 Introduction
2 Background
The Origins of the Lloyd's Committee and
the Lloyd's Council
The Council
Electing the Council, the Chairman and the
Deputy Chairmen; Corporate Members
Terms of Office
3 Preconditions and tests for LROs
4 What the draft Order proposes
The Proposals
Proposal 1: Relax the Section 4 1982 Act
requirement for the Chairman and Deputy Chairmen to be elected
from the working members on the Council
Proposal 2: Remove the term of office restrictions
on elections to the Council
Proposal 3: Remove the requirement for approval
of nominated members of the Council from the Governor of the Bank
of England
Proposal 4: Remove the provisions establishing
the Committee of Lloyd's
Proposal 5: Reform the delegation rules
Proposal 6: Relax the rules on membership
of the Disciplinary Committee
Proposal 7: Remove the restriction that requires
Lloyd's managing agents generally to accept and place business
only from or through a Lloyd's broker
Proposal 8: Repeal the "divestment"
provisions
Other proposals
5 Conclusions
List of written evidence
Appendix 1
Appendix 2
Annex 1 Organisations with an interest in
Lloyd's
Annex 2 Provisions in Lloyd's byelaws relating
to the powers of the chairman
Annex 3 UK and EU law relevant to the management
of conflicts of interest
Formal Minutes relating to the report
Letter to the Regulatory Reform Committee
from Cotesworth 535 / 536 Action Group
Submission to the Regulatory Reform Committee
from Julian West (Lloyd's Name)
Reports from the Regulatory Reform Committee
in the last and current Session
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