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  3. Point in time
    2011-03-01

ancillary insurance services undertaking

14(in relation to any undertaking in a consolidation group, sub-group or other group of persons) an undertaking complying with the following conditions:

  1. (a) its principal activity consists of:
    1. (i) owning or managing property; or
    2. (ii) managing data-processing services; or
    3. (iii) any other similar activity;
  2. (b) the activity in (a) is ancillary to the principal activity of one or more insurance undertakings; and37
  3. (c) those insurance undertakings are also members of that consolidation group, sub-group or other group of persons37.37
    4. 37