Substitute agents

2. Where a substitute agent is or has been appointed, the Council may give such directions as it considers appropriate –

(a) to the substitute agent;

(b) to any underwriting agent who at any time has acted for such member whether or not in the capacity of underwriting agent or who is subject to suspension (the “prior underwriting agent”);

(c) to any other person conducting the business of insurance at Lloyd’s

in connection with the appointment of the substitute agent and the continuation of the agency business of the prior underwriting agent or concerning the underwriting business of any member of the Society or for the protection of any Lloyd’s policyholder, the Society, any member or any other person doing business at Lloyd’s.

^{Underwriting Byelaw, paragraph 70}

3. Where a direction is given under [paragraph 2. above], such direction shall take effect notwithstanding any contrary or inconsistent provision contained in any agreement between the prior underwriting agent and any member.

^{Underwriting Byelaw, paragraph 71}

4. The Council may from time to time add to, amend or withdraw any direction given under [paragraph 2. above].

^{Underwriting Byelaw, paragraph 72}

5. The powers of the Council to appoint a substitute agent or to issue directions incidental thereto shall apply in relation to a member or a former member notwithstanding that he or it may at the date of the appointment or direction or subsequently have ceased to be a member for any reason.

^{Underwriting Byelaw, paragraph 73}

6. Except where the context otherwise requires, references in [this Substitute agents section] to a member or a former member include references to his personal representatives, trustee in bankruptcy, curator bonis, receiver or committee or any other persons by law entitled or bound to administer his affairs.

^{Underwriting Byelaw, paragraph 74}

The following Codes have been issued under paragraph 31 of the Underwriting Byelaw.