asked the Secretary of State for Trade and Industry what steps he is taking to monitor the operation of the Lloyds Act 1982.

The 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.