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Status: You are viewing the version of the handbook as on 2005-06-30.

LLD 5.2 Requirements relating to former underwriting members

LLD 5.2.1R

The Society must draw sections 320 to 322 of the Act (Former underwriting members, Requirements imposed under section 320, Rules applicable to former underwriting members) to the attention of any person ceasing to be an underwriting member on or after commencement.

LLD 5.2.2R

The Society must require any person, other than a body corporate, ceasing to be an underwriting member on or after commencement to:

  1. (1)

    notify the Society of any change in his address within one month of the change; and

  2. (2)

    in the case of a natural person, to make arrangements for the Society to be notified in the event of his death.

LLD 5.2.3G

The Society should make and retain records of the notifications made to it under the requirements referred to in LLD 5.2.2 R. It should give the FSA access to these records if the FSA requests this.