Insurance Ordinance

(1)
Sections 25D
and
25E
shall apply in relation to a transfer to and from members of Lloyd’s if, and only if, the following conditions are
satisfied—
(a)
the transfer is not one where both the transferor and the transferee are members of Lloyd’s;
(b)
the Committee of Lloyd’s have by resolution authorized one person to act in connection with the transfer for the members concerned as transferor or transferee; and
(c)
a copy of the resolution has been given to the Authority.
(2)
Where
sections 25D
and
25E
apply in relation to a transfer to or from members of Lloyd’s, they shall apply as
if—
(a)
reference to
                    an
                    insurer or authorized insurer in
section 25D
included reference to members of Lloyd’s;
                    and
(b)
anything done in connection with the transfer by the person authorized in accordance with subsection
(1
)(
b)
had been done by members for whom he acted.