1. The Council may make requirements that any person shall, as a condition of exercising such functions in relation to the conduct of insurance business at Lloyd’s as may be specified, have –
(a) met such examination, standards and qualification requirements as are prescribed by the Council;
(b) such relevant experience as may be specified by the Council.
Underwriting Byelaw, paragraph 54
2. Every underwriting agent and approved run-off company shall –
(a) prepare a training and development plan; and
(b) nominate a director, whose identity shall be notified to the Council, responsible for the preparation and implementation of the training and development plan (without prejudice to the responsibilities of the directors generally) and who shall ensure that the training and development plan and its implementation are considered and reviewed by the directors at such periods as the Council may specify and that such review is documented and capable of production to the Council on request.
Underwriting Byelaw, paragraph 55
3. The Council may make requirements that such directors, officers and employees of underwriting agents or approved run-off companies as the Council may from time to time prescribe participate in programmes of continuing professional education and development.
Underwriting Byelaw, paragraph 56
4. The Council may grant exemptions to any requirements made under [this Professional standards and development section] for such period and on such conditions as it thinks fit.
Underwriting Byelaw, paragraph 57
The following Codes have been issued under paragraph 31 of the Underwriting Byelaw.