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  2. Point in time
    2020-12-31

qualifying parent undertaking

25has the meaning in section 192B (meaning of "qualifying parent undertaking") of the Act which, in summary, is a parent undertaking of:

  1. (a) an authorised person that is a body corporate incorporated in the UK 26that26 is:
    1. (i) a PRA-authorised person; or
    2. (ii) an investment firm; or
  2. (b) a recognised investment exchange that is not an overseas investment exchange;

where the parent undertaking is:

  1. (c) a body corporate which:
    1. (i) is incorporated in the UK; or
    2. (ii) has a place of business in the UK;
  2. (d) not an authorised person, a recognised investment exchange or a recognised clearing house; and
  3. (e) any of the following:
    1. (i) an insurance holding company;
    2. (ii) a financial holding company;
    3. (iii) a mixed financial holding company;
    4. (iv) for certain purposes, a mixed-activity holding company.