§ 51. Mr. Wrigglesworthasked the Secretary of State for Trade and Industry what steps he is taking to monitor the operation of the Lloyds Act 1982.
§ Mr. PattieThe operation of the Lloyd's Act 1982 was considered by the committee of inquiry into regulatory matters at Lloyd's, whose report was published on 22 January 1982 (Cm 59). I have had a preliminary discussion with the chairman of Lloyd's about the implementation of the recommendations and await a detailed timetable. Lloyd's has already announced acceptance of 13 recommendations affecting its constitution. I shall follow carefully progress in this matter and the future of investment and policyholder protection at Lloyd's.