Regulatory Reform Committee press notice

Session 2007-08 16 October 2008

PUBLICATION OF REPORT: Draft Legislative Reform (Lloyd's) Order 2008


The draft Legislative Reform (Lloyd's) Order 2008 and Explanatory Document (ED) were laid before Parliament on 17 July 2008 under section 14(1) of the Legislative and Regulatory Reform Act 2006 (LRRA).

The draft Order proposes a number of reforms in the governance of Lloyd's together with changes in certain restrictions on the operation of the Lloyd's insurance market. The Government has recommended that the draft Order be proceeded with under the affirmative resolution procedure. The Committee agrees that the affirmative procedure is appropriate in this case. It recommends that the draft Order be approved and proceeded with in accordance with section 17(2) of the Legislative and Regulatory Reform Act 2006.

The Committee's assessment of the draft Order will be published as its Sixth Report of the 2007-08 Session at 2.00 pm on Monday 20 October 2008. It will be available from Stationery Office outlets (Ref HC 1090).

The text of the report will also be available on the Committee's website from 3.30 pm on the day of publication. (www.parliament.uk/regrefcom)

Notes for Editors

The Regulatory Reform Committee (previously the Deregulation and Regulatory Reform Committee) is appointed to consider and report to the House on draft Legislative Reform Orders under the Legislative and Regulatory Reform Act 2006. Its full remit is set out in S.O. No. 141.

The Members of the Committee are:

Andrew Miller , Labour , Ellesmere Port & Neston (Chairman)
Gordon Banks , Labour , Ochil and South Perthshire
Lorely Burt , Liberal Democrat , Solihull
Mr Quentin Davies , Labour , Grantham and Stamford
Mr James Gray , Conservative , North Wiltshire
John Hemming , Liberal Democrat , Birmingham, Yardley
Mrs Sharon Hodgson , Labour , Gateshead East & Washington West
Mr Stewart Jackson , Conservative , Peterborough
Judy Mallaber , Labour , Amber Valley
Dr Doug Naysmith , Labour Co/op , Bristol North West
Mr Mark Prisk , Conservative , Hertford and Stortford
Mr Jamie Reed , Labour , Copeland
Mr Anthony Steen , Conservative , Totnes
Phil Wilson , Labour , Sedgefield

For further information on the work of the Committee, contact Liz Booth, Secretary / Committee Assistant (020 7219 2837); or see the Committee's website www.parliament.uk/regrefcom