The Council has the power under the Lloyd’s Acts to make byelaws. It has been a number of years since we systematically reviewed our byelaws and while we are satisfied the byelaws continue to effectively govern the Market, some have not been subject to a recent review and merit revisiting.
At this round, our intention has been to remove redundancy, make necessary updates to a number of requirements and consolidate others that are presently spread across several byelaws. In a few instances, where there are known difficulties, we have made changes to our requirements. We may in the future revisit other byelaws in more detail.
We are now consulting on the changes we are making. Full details of the changes are set out in our detailed consultation document. Responses to the consultation and any enquiries can be sent to Guy Holden, Solicitor at firstname.lastname@example.org. It is requested that all responses should be provided by 12 September 2022.
The consultation is now closed and the byelaw changes have been made and were published under Market Bulletin Y5396 on 10 February 2023.