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You are viewing the version of the document as on 2023-12-11.

branch

  1. 53
    1. (a) (in relation to a credit institution):
      1. (i) a place of business which forms a legally dependent part of a credit institution and which carries out directly all or some of the transactions inherent in the business of credit institutions;
      2. (ii) [deleted]75
    2. (b) (in relation to an investment firm):
      1. (i) a place of business other than the head office which is a part of an investment firm, which has no legal personality and which provides investment services and/or activities and which may also perform ancillary services for which the firm has been authorised70;
      2. (ii) [deleted]75
      [Note: article 4(1)(30)70 of MiFID]
    3. (c) (in relation to an insurance undertaking) any permanent presence of the insurance undertaking other than in the country75 in which it has its head office is to be regarded as a single branch, whether that presence consists of a single office which, or two or more offices each of which:
      1. (i) is managed by the insurance undertaking's own staff; or
      2. (ii) is an agency of the insurance undertaking; or
      3. (iii) is managed by a person who is independent of the insurance undertaking, but has permanent authority to act for the insurance undertaking as an agency would.
    4. (d) (in relation to an IDD insurance intermediary):73
      1. (i) a place of business which is a part of an IDD insurance intermediary73, not being the principal place of business, which has no separate legal personality and which provides insurance distribution73 for which the IDD insurance intermediary73 has been registered;
      2. (ii) [deleted];75737373
      3. (iii) [deleted].7573
      [Note: articles 2(1)(12) and 6(1) of the IDD]73
    5. (e) (in relation to an IDD reinsurance intermediary73
      1. (i) a place of business which is a part of an IDD reinsurance intermediary73, not being the principal place of business, which has no separate legal personality and which provides reinsurance distribution73 for which the IDD reinsurance intermediary73 has been registered;
      2. (ii) [deleted];75737373
      3. (iii) [deleted].7573
      [Note: articles 2(1)(12) and 6(1) of the IDD] 7375
    6. (f) [deleted]75
      1. (g) (in accordance with regulation 2(1) of the Payment Services Regulations) 71(in relation to a payment institution or a registered account information service provider75) a place of business of such a payment service provider71, other than its head office, which forms a legally dependent part of such a provider71 and which carries out directly all or some of the services71 inherent in its business75. [Note: article 4 (39) of the Payment Services Directive]757171
      2. (h) 7578(in relation to a person carrying on auction regulation bidding) a branch.
      3. (i) (in relation to an AIFM)
        1. (i) a place of business which is a part of an AIFM that has no legal personality and provides the services for which the AIFM has been authorised;
        2. (ii) for the purpose of (i), all places of business established in the same country75 by an AIFM with its registered office in another country75 shall be regarded as a single branch.
        [Note: article 4(1)(c) of AIFMD]