The order expands the scope of the Part VII regime to all Lloyd's participants who can use the FSMA business transfer procedure for all insurance business whenever written in the Lloyd's market. The order was made on 1 July 2008 and comes into force on 23 July 2008. The order is the last of four instruments covered by a HM Treasury consultation on business transfers under FSMA which was published in November 2006. The other three instruments came into force on 30 June 2008.
For further information please see HM Treasury publishes response to consultation on Part VIIs