UK Statutory Instrument SI 2004/3219 United Kingdom

The Insurance Accounts Directive (Lloyd’s Syndicate and Aggregate Accounts) Regulations 2004

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Status
In Force
Penalty ceiling
Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Any Person4

Plus 7 duties on the regulator, Crown ministers and public bodies — folded into the section list below.

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Any Person — also bound by 2340 other Acts

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

s.003 Preparation of syndicate annual accounts Regulated
  • Prepare annual accounts and reports for each managed syndicateAny Person
s.005 Accounts to be sent to syndicate members, the Council and Regulated
  • Send syndicate accounts to members and Council within 3 months, FCA within 6 monthsAny Person
s.006 Publication of syndicate accounts Regulated
Other duties (1) — Crown / regulator
  • Council of Lloyd’s must make syndicate accounts available for inspection and supply copiesStatutory regulator
s.008 Preparation of aggregate accounts by Council of Lloyd's Regulated
Other duties (1) — Crown / regulator
  • Council of Lloyd's must prepare annual aggregate accounts within 6 monthsStatutory regulator
s.009 Approval and signing of aggregate accounts Regulated
Other duties (1) — Crown / regulator
  • Council of Lloyd's must approve and sign aggregate accountsStatutory regulator
s.010 Preparation of annual report by the Council of Lloyd's Regulated
Other duties (1) — Crown / regulator
  • Council of Lloyd's must prepare annual report on insurance businessStatutory regulator
s.011 Approval and signing of annual report Regulated
Other duties (1) — Crown / regulator
  • Council of Lloyd's must approve, sign and circulate annual report with signatory's nameStatutory regulator
s.012 Auditors' report Regulated
Other duties (1) — Crown / regulator
  • Council of Lloyd's must obtain and publish auditors' report on aggregate accountsCrown / Minister / Government department
s.013 Signature of auditors' report Regulated
  • Auditors must sign and date the report and state their names on all copiesAny Person
s.014 Appointment of and duties of auditors Regulated
  • Auditors must check aggregate accounts are properly preparedAny Person
s.015 Aggregate accounts and annual report of Council to be delivered to the Authority and published Regulated
Other duties (1) — Crown / regulator
  • Council of Lloyd's must deliver accounts to regulator and allow public inspectionStatutory regulator
20 other provisions — procedural and definitional
s.001 Citation and commencement
s.001 The accounts prepared under regulation 3 must comply with the... (opens in a new tab)
s.002 Interpretation
s.002 Where any of the provisions of the 1985 Act set... (opens in a new tab)
s.003 The following sections of the 1985 Act are modified in... (opens in a new tab)
s.004 Preparation of syndicate underwriting year accounts
s.004 Section 226 (duty to prepare individual accounts) is modified as... (opens in a new tab)
s.005 Section 231 (disclosure required in notes to accounts: related undertakings)... (opens in a new tab)
s.006 (1) Section 232 (disclosure required in notes to accounts: emoluments... (opens in a new tab)
s.007 Penalties for non-compliance
s.007 Section 233 (approval and signing of accounts) is modified as... (opens in a new tab)
s.008 Section 234 (duty to prepare directors' report) is modified as... (opens in a new tab)
s.009 Section 234A (approval and signing of directors' report) is modified... (opens in a new tab)
s.010 Section 235 (auditors' report) is modified so that subsection (1)... (opens in a new tab)
s.011 Section 236 (signature of auditors report) is modified as follows—... (opens in a new tab)
s.012 Section 240 (requirements in connections with publication of accounts) is... (opens in a new tab)
s.013 Schedule 9A (form and content of accounts of insurance companies... (opens in a new tab)
s.016 Functions of the Financial Services Authority
s.017 Transitional provisions
s.018 Consequential provisions

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.