Lloyd’s Act 1871
E460290
Lloyd’s Act 1871 is a UK statute that formally established the legal framework and corporate structure of the Lloyd’s of London insurance market.
Statements (47)
| Predicate | Object |
|---|---|
| instanceOf |
Act of Parliament of the United Kingdom
ⓘ
United Kingdom statute ⓘ |
| appliesTo | Lloyd’s of London NERFINISHED ⓘ |
| appliesToOrganization | Society of Lloyd’s NERFINISHED ⓘ |
| appliesToOrganizationType | insurance market ⓘ |
| country | United Kingdom ⓘ |
| defines |
the Committee of Lloyd’s
NERFINISHED
ⓘ
the Society of Lloyd’s NERFINISHED ⓘ the objects of the Society of Lloyd’s ⓘ the powers and duties of the Committee of Lloyd’s ⓘ |
| enactedBy | Parliament of the United Kingdom NERFINISHED ⓘ |
| enactedFor | Lloyd’s of London insurance market NERFINISHED ⓘ |
| followedBy | Lloyd’s Act 1911 NERFINISHED ⓘ |
| hasAmendment |
Lloyd’s Act 1911
NERFINISHED
ⓘ
Lloyd’s Act 1925 NERFINISHED ⓘ Lloyd’s Act 1951 NERFINISHED ⓘ Lloyd’s Act 1982 NERFINISHED ⓘ |
| historicalSignificance | first comprehensive statutory recognition of Lloyd’s as a corporate body ⓘ |
| jurisdiction | Parliament of the United Kingdom NERFINISHED ⓘ |
| language | English ⓘ |
| legalEffect |
conferred corporate status on the Society of Lloyd’s
ⓘ
provided statutory basis for the operation of the Lloyd’s market ⓘ recognized Lloyd’s as a corporate body NERFINISHED ⓘ |
| legalStatusGrantedTo | members of Lloyd’s acting collectively ⓘ |
| locationOfEffect |
England and Wales
NERFINISHED
ⓘ
Northern Ireland NERFINISHED ⓘ Scotland NERFINISHED ⓘ |
| mainSubject |
corporate governance of Lloyd’s of London
ⓘ
insurance market regulation ⓘ |
| partOf | Lloyd’s Acts NERFINISHED ⓘ |
| purpose |
to define the corporate structure of Lloyd’s of London
ⓘ
to establish the legal framework of the Lloyd’s of London insurance market ⓘ to incorporate the members of Lloyd’s ⓘ |
| regulates |
internal governance of the Society of Lloyd’s
ⓘ
management of Lloyd’s property ⓘ membership of Lloyd’s ⓘ powers of the Committee of Lloyd’s ⓘ |
| relatedTo |
governance of underwriting members at Lloyd’s
ⓘ
regulation of insurance underwriting at Lloyd’s ⓘ |
| sector |
insurance
ⓘ
reinsurance ⓘ |
| setsOut |
objects and purposes of the Society of Lloyd’s
ⓘ
provisions on management of Lloyd’s funds and property ⓘ rules for meetings and decision-making of Lloyd’s ⓘ |
| typeOfLaw |
corporate law
ⓘ
financial services law ⓘ |
| yearEnacted | 1871 ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.