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running-account credit
As Published: 2003
running-account credit
14 (in accordance with section 10(1)(a) of the Consumer Credit Act 1974) a facility under a contract by which the customer is enabled to receive from time to time (whether in his own person, or by ano…
extraordinary resolution
As Published: 2001
extraordinary resolution
4 (in COLL and CIS ) a resolution passed by a majority of not less than three-quarters of the votes validly cast (whether on a show of hands or on a poll) for and against the resolution at a general m…
establishment costs
As Published: 2001
establishment costs
(1) (in FEES 6 27 27 ) the costs of establishing the compensation scheme . (2) (in FEES 5 4 3 27 27 ) the costs of establishing the Financial Ombudsman Service .
ISA transfer
As Published: 2001
ISA transfer
a transaction resulting from a decision, made with or without advice from a firm , by a customer who is an individual, to transfer the investments (or their value) held in his existing ISA in favour o…
relevant charitable scheme
As Published: 2001
relevant charitable scheme
an authorised fund which is: (a) a registered charity; or (b) a charitable unit trust scheme under regulation 7(2)(d) of the Income Tax (Definition of Unit Trust Scheme) Regulations 1988. 5…
ELM 1.4 Meaning of e-money and application of financial promotion
As Published: 2002
ELM 1.4 Meaning of e-money and application of financial promotion
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non-real time financial promotion
As Published: 2001
non-real time financial promotion
(in accordance with article 7(2) of the Financial Promotion Order ) a financial promotion that is not a real time financial promotion . 2 4…
insurance conglomerate
As Published: 2004
insurance conglomerate
a financial conglomerate that is identified in paragraph 4.3 of GENPRU 3 Annex 1 (Types of financial conglomerate) as an insurance conglomerate. 52…
Community Co-Insurance Directive
As Published: 2001
Community Co-Insurance Directive
the Council Directive of 30 May 1978 on the coordination of laws, regulations and administrative provisions relating to Community co-insurance (No 78/473/EEC). 3…
EEA ISPV
As Published: 2006
EEA ISPV
32 an ISPV (including a UK ISPV ) whose head office is in any EEA State and which has received authorisation pursuant to article 46 of the Reinsurance Directive from its Home State Regulator .
global account
As Published: 2001
global account
the aggregate 17 accounts produced by the Council in accordance with Regulation 8(1) of the Insurance Accounts Directive (Lloyd's Syndicate and Aggregate Accounts) Regulations 2004. 17…
composite firm
As Published: 2004
composite firm
27 a firm that carries on both long-term insurance business and general insurance business .
upper tier two instrument
As Published: 2004
upper tier two instrument
11 a capital instrument 19 that meets the conditions in GENPRU 2.2.177 R (Upper tier two capital: General) 19 and is eligible to form part of a firm 's upper tier two capital resources .
out of the money
As Published: 2006
out of the money
29 (for the purposes of BIPRU 7 (Market risk) and in relation to an option or warrant ) that option or warrant being neither at the money nor in the money .
market abuse (improper disclosure)
As Published: 2005
market abuse (improper disclosure)
26 the behaviour described in section 118(3) of the Act , which is an insider disclosing inside information to another person otherwise than in the proper course of the exercise of employment, profess…
traded life policy
As Published: 2001
traded life policy
a life policy which is to be or has been assigned for value by the policyholder to another person . 3…
VaR model
As Published: 2006
VaR model
8 a value at risk model as described in BIPRU 7.10 (Use of a Value at Risk Model).
INSPRU 1 Annex 1 INSPRU 1.2 (Mathematical reserves) and INSPRU 1.3 (With-profits insurance capital component)
As Published: 2006
INSPRU 1 Annex 1 INSPRU 1.2 (Mathematical reserves) and INSPRU 1.3 (With-profits insurance capital component)
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entering into a regulated mortgage contract
As Published: 2003
entering into a regulated mortgage contract
14 16 the regulated activity , specified in article 61(1) of the Regulated Activities Order , which is in summary: entering into a regulated mortgage contract as lender. 17…
e-money issuer
As Published: 2002
e-money issuer
(in accordance with the definition of an "electronic money institution" in article 1.3 of the E-Money Directive ) an undertaking or any other legal person , other than a full credit institution , whic…