In this byelaw:
‘‘agents’ syndicate list’’ has the meaning given in the Agency Agreements Byelaw (No. 8 of 1988);
‘‘associate’’ has the meaning given in the Schedule to the Membership Byelaw (No. 17 of 1993);
‘‘auction’’ means an auction held under a capacity allocation scheme established under the Auction Byelaw (No. 14 of 1997);
‘‘connected person’’ has the meaning given in the Schedule to the Membership Byelaw (No. 17 of 1993);
‘‘controller’’ and ‘‘control’’ have the meanings given in the Schedule to the Membership Byelaw (No. 17 of 1993);
‘‘current year of account’’ means the year of account corresponding to the year in which any pre-emption offer is made under this [Syndicate Pre-Emption part of the Consolidated Requirements];
‘‘MAPA pre-emptive entitlement’’ has the meaning given in paragraph [2. in Consolidated Requirements Part 2 > General Operational Matters > Syndicate Pre-emption > MAPAs: syndicate pre-emption offers].
‘‘member’s syndicate premium limit’’ has the meaning given in the Membership Byelaw (No. 17 of 1993);
‘‘nomination’’ means a nomination under clause 11A.2 of the standard managing agent’s agreement (general) or standard managing agent’s agreement (corporate member) or a second nomination under the Assignment of Syndicate Participations (Second Nomination) Byelaw (No. 6 of 2000);
‘‘prescribed date’’ means such date in each year as the Council may from time to time prescribe for the purpose of the provision in which the reference occurs;
‘‘run-off account’’ has the meaning given in the Syndicate Accounting Byelaw (No. 18 of 1994);
‘‘requirements of the Council’’ means any requirement imposed by any byelaw or regulation made under Lloyd’s Acts 1871 to 1982, any condition or requirement imposed or direction given under any such byelaw or regulation, any direction given under section 6 of Lloyd’s Act 1982, any requirement imposed by or under any undertaking given by a member of the Society to Lloyd’s or to the Council and any other requirement imposed or direction given by the Council under Lloyd’s Acts 1871 to 1982; and the phrase ‘‘required by the Council’’ and similar phrases shall be construed accordingly;
‘‘standard members’ agent’s agreement’’, ‘‘standard managing agent’s agreement (general)’’ and ‘‘standard managing agent’s agreement (corporate member)’’ have the meanings respectively given in the Agency Agreements Byelaw (No. 8 of 1988);
‘‘succeeding year of account’’ means in relation to a calendar year and the year of account corresponding to that calendar year, the year of account corresponding to the next following calendar year;
‘‘syndicate allocated capacity’’ means, in relation to a syndicate, the aggregate of the member’s syndicate premium limits of all the members for the time being of the syndicate together with the member’s syndicate premium limit of any person who was a member of the syndicate on 1 January but who has subsequently died;
‘‘syndicate list’’ has the meaning given in the Agency Agreements Byelaw (No. 8 of 1988);
‘‘syndicate premium limit’’ means:
(a) in relation to a person who is a member of the syndicate for the current year of account, the member’s syndicate premium limit of that member for the current year of account together with the amount of the member’s syndicate premium limit in respect of which any nomination has been made in his favour or which has been allocated to him by auction but less the amount that is the subject of any nomination made by him or which has been allocated by him by auction; and
(b) in relation to any person who is not a member of the syndicate for the current year of account but in whose favour a nomination has been made or who, by auction, has become entitled to participate in the syndicate for the succeeding year of account, the amount of the member’s syndicate premium limit in respect of which such nomination has been made or which has been allocated to him by auction less the amount of the member’s syndicate premium limit in respect of which any nomination has been made by him or which has been allocated by him by auction.