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immediate group

  1. 59(1) (in relation to an authorised person ) (as defined in section 148(11) of the Act (Modification or waiver of rules)):
    1. (a) the authorised person;
    2. (b) a parent undertaking of the authorised person;
    3. (c) a subsidiary undertaking of the authorised person;
    4. (d) a subsidiary undertaking of a parent undertaking of the authorised person;
    5. (e) a parent undertaking of a subsidiary undertaking of the authorised person.
  2. (2) (in ELM 7 and BIPRU and in relation to any person52) has the same meaning as in paragraph (1), with the omission of (1)(e).