ancillary banking services undertaking

5(as defined in article 1.23 of the Banking Consolidation Directive (Definitions)) and in relation to an undertaking in a consolidation group, sub-group or another group of persons) an undertaking complying with the following conditions: 14

1. (a) its principal activity consists in: 14
   1. (i) owning or managing property;14
   1. (ii) managing data-processing services; or14
   1. (iii) any other similar activity;14
1. (b) the activity in (a) is ancillary to the principal activity of one or more credit institutions; and14
1. (c) those credit institutions are also members of that consolidation group, sub-group or group.14