324 Interpretation of this Part
324 Interpretation of this Part

(1)     In this Part—

“arranging deals”, in relation to the investments to which this Part applies, has the same meaning as in paragraph 3 of Schedule 2;

“former underwriting member” means a person ceasing to be an underwriting member of the Society on, or at any time after, 24 December 1996; and

“participation in Lloyd's syndicates”, in relation to the secondary market activity, means the investment described in sub-paragraph (1) of paragraph 21 of Schedule 2.

(2)     A term used in this Part which is defined in Lloyd's Act 1982 has the same meaning as in that Act.