counterparty

1. (1) (in LLD) (in relation to the Society, a syndicate or member): 27
   1. (a) any individual; or 27
   2. (b) any unincorporated body of persons; or 27
   3. (c) any company which is not a member of a group; or 27
   4. (d) any group of companies, excluding any companies within the group which are subsidiary undertakings of the Society, a syndicate or member; or 27
   5. (e) any government of a State or any public bodies, local authorities or nationalised industries of a State; 27

in which the Society, a syndicate or member has made investments or against which it has rights under a contract entered into by the Society, syndicate or member.

1. (2) (in PRU) (in relation to an insurer):27
   1. (a) any one individual; or 27
   2. (b) any one unincorporated body of persons; or 27
   3. (c) any company which is not a member of a group; or 27
   4. 2734(d) any group of companies excluding:34
      1. (i) (for the purposes of PRU 3.2 ) any companies within the group which are subsidiary undertakings of the insurer and which fall within PRU 1.3.31 R ; and34
      2. (ii) (for all other purposes) any companies within the group which are subsidiary undertakings of the insurer; or34
   5. (e) any government of a State together with all the public bodies, local authorities or nationalised industries of that State,27
   in which the insurer, or any of its subsidiary undertakings, has made investments or against whom, or in respect of whom, it, or any of its subsidiary undertakings, has rights or obligations under a contract entered into by the insurer or any of its subsidiary undertakings.327