Related Commentary  

14(1)  This regulation applies where a member ceases to carry on his underwriting business, whether by reason of death or otherwise, and either–

(a)his deposit at Lloyd’s is paid over to him or his personal representatives or assigns on or after 1st January 1993, or

(b)the last open year of account of any syndicate of which he is a member is closed after 31st December 1992.

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