1. In Agency Agreements, unless the context otherwise requires, the following expressions have the following meanings:
‘‘agents’ syndicate list’’ means a schedule containing the particulars referred to in the definition of Agent’s Syndicate List in [the standard members’ agent’s agreement, the standard agents’ agreement, the standard managing agent’s agreement (general)] and such other particulars as the Council may prescribe under paragraph 6 [below];
“close relative” means, in relation to any person, (a) his spouse or civil partner; (b) his children and step-children, his parents and step-parents, his brothers and sisters and his step-brothers and step-sisters; and (c) the spouse or civil partner of any person within (b);
“controlled” shall be construed by reference to the definition of “controller” in section 422 of the Financial Services and Markets Act 2000;
‘‘co-ordinating agent’’ means a members’ agent appointed by an underwriting member to co-ordinate the administration of that member’s affairs at Lloyd’s in circumstances where more than one person is obliged to act as members’ agent for that member;
‘‘corporate member’s syndicate list’’ means a schedule containing the particulars referred to in the definition of Corporate Member’s Syndicate List in [the managing agent’s agreement (corporate member)] and such other particulars as the Council may prescribe under paragraph 6 [below];
‘‘direct syndicate’’ means, in relation to an underwriting member entering or proposing to enter into an agreement with a managing agent in the terms of the standard managing agent’s agreement, a syndicate in respect of which the managing agent acts, or is to act both as his managing agent and as his members’ agent;
‘‘law and forum notice’’ has the meaning given in clause 6A [below];
‘‘member’s syndicate premium limit’’ has the meaning given to it in Definitions;
‘‘members’ agent’’ means an underwriting agent which is listed as a members’ agent on the register of underwriting agents maintained under Underwriting: Register.
‘‘members’ agent pooling arrangement’’ or ‘‘MAPA’’ has the meaning given in paragraph 10(2) [below];
‘‘overall premium limit’’ has the meaning given in Definitions;
“parent undertaking” has the meaning given in section 420 of the Financial Services and Markets Act 2000;
‘‘run-off account’’ has the meaning given in Definitions;
‘‘second nomination’’ has the meaning given in Assigning Syndicate Participations;
‘‘standard agents’ agreement’’ means the form of agreement between a members’ agent and a managing agent set out in [the standard agents’ agreement];
‘‘standard agreements’’ means the standard agents’ agreement, the standard managing agent’s agreement (corporate member), the standard managing agent’s agreement (general) and the standard members’ agent’s agreement.
‘‘standard managing agent’s agreement (corporate member)’’ means the form of agreement between a corporate member and a managing agent set out in Schedule 4 [to the Agency Agreements Byelaw];
‘‘standard managing agent’s agreement (general)’’ means the form of agreement between an underwriting member and a managing agent set out in Schedule 3 [to the Agency Agreements Byelaw];
‘‘standard members’ agent’s agreement’’ means the form of agreement between an underwriting member and a members’ agent set out in Schedule 1 [to the Agency Agreements Byelaw];
‘‘syndicate’’ means a group of underwriting members underwriting insurance business at Lloyd’s through the agency of a managing agent;
‘‘syndicate list’’ means a schedule containing the particulars referred to in the definition of Syndicate List in [the standard members’ agent’s agreement, the standard agents’ agreement, the standard managing agent’s agreement (general)] and such other particulars as the Council may prescribe under paragraph 6 [below].
Agency Agreements Byelaw, paragraph 1(1)
2. For the purpose only of interpreting references in [the Agency Agreements Section] to members’ agent pooling arrangements, MAPA participations, participating in a particular syndicate through a MAPA and like expressions, unless the context otherwise requires:
(a) the members of a particular syndicate for whom a members’ agent also acts as members’ agent and whose MAPA participations are ascertained in accordance with the formula specified in an agents’ syndicate list prepared by that members’ agent together with the Name’s MAPA participation shall, in relation to that syndicate, be treated as belonging to the same MAPA as the Name;
(b) where in respect of any year of account the Name or any member of a particular syndicate belongs to a MAPA he and they may be said to be participating in that syndicate ‘‘through’’ that MAPA and the members’ agent which arranged such participation may be said to be ‘‘operating’’ that MAPA; and
(c) where in respect of any year of account a members’ agent operates more than one MAPA, and whether or not each such MAPA comprises the same underwriting members and whether or not such members have the same MAPA participations in relation to each such MAPA, then those MAPAs shall be treated as separate MAPAs.
Agency Agreements Byelaw, paragraph 1(2)