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