third-country relevant authorised person

71a non-UK institution other than an incoming firm which is a relevant authorised person in accordance with article 2 of the Financial Services and Markets Act 2000 (Relevant Authorised Persons) Order 2015 which, in summary, is a non-UK institution other than an incoming firm that meets the following conditions:

1. (a) it has a branch in the United Kingdom;
2. (b) it is not an institution that has permission for effecting contracts of insurance or carrying out contracts of insurance; and
3. (c) it meets one of the following conditions:
   1. (i) it is a credit institution which has a Part 4A permission that includes accepting deposits; or
   2. (ii) it meets all the following conditions:
      1. (A) the institution is an investment firm;
      2. (B) its Part 4A permission covers dealing in investments as principal; and
      3. (C) when carried on by it, that activity is a PRA-regulated activity.