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  1. Point in time
    2006-08-30

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