Definitions

1. In this byelaw, unless the context otherwise requires:

‘‘associate’’ means, in relation to a person:

(a) any director or employee of, or partner in, that person or any connected company;

(b) any close relative of any such director, partner or employee; or

(c) any connected company;

‘‘associated group’’ has the meaning given in paragraph 2. in Mandatory Offer: Obligation to make a mandatory offer;

‘‘close relative’’ means an individual’s spouse, his children and step-children, his parents and step-parents, his brothers and sisters and his step-brothers and step-sisters;

‘‘connected company’’ means, in relation to any person, any body corporate which controls or is controlled by that person or is controlled by any other person (or any group of persons) who also controls that person, and any reference to a company being ‘‘connected with’’ a person shall be construed accordingly;

‘‘control’’ has the meaning given in the Schedule to the Membership Byelaw (No. 17 of 1993);

‘‘mandatory offer’’ means an invitation required to be made by paragraph 1. or 2. in Mandatory Offer: Obligation to make a mandatory offer;

‘‘member’s syndicate premium limit’’ has the meaning given in the Schedule to the Membership Byelaw (No. 17 of 1993);

‘‘offeror’’ means the person required by paragraph 1. or 2. in  Mandatory Offer: Obligation to make a mandatory offer]to make the mandatory offer;

‘‘participation nomination’’ has the meaning given in Conversion and Related Arrangements: Interpretation > Definitions;

‘‘potential offeror’’ means, when used in Mandatory Offer :Postponement of mandatory offer requirement of this byelaw, the person who would be required by 1. or 2. in Mandatory Offer: Obligation to make a mandatory offer to make the mandatory offer but for Mandatory Offer: Postponement of mandatory offer requirement and, when used in Mandatory Offer: Waiver of mandatory offer requirement, the person who would be required by 1. or 2. in Mandatory Offer: Obligation to make a mandatory offer to make the mandatory offer but for Mandatory Offer: Waiver of mandatory offer requirement;

‘‘prospective participation’’ means, in relation to a syndicate, the amount of the member’s syndicate premium limit with which a person will be entitled to participate as a member of that syndicate for the next following year of account;

‘‘second nomination’’ has the meaning given in the Schedule to the Assignment of Syndicate Participations (Second Nomination) Byelaw (No. 6 of 2000);

‘‘share swap arrangement’’ has the meaning given in Conversion and Related Arrangements: Interpretation > Definitions;  

‘‘surrender arrangement’’ has the meaning given in the Conversion and Related Arrangements: Interpretation > Definitions;

‘‘syndicate allocated capacity’’ has the meaning given in paragraph 1(a) of the Syndicate Premium Income Byelaw (No. 6 of 1984).

^{Mandatory Offer Byelaw, Schedule 1}