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the Host State rules with which:(a) an incoming EEA firm is required to comply when carrying on a permitted activity through a branch or by providing services (as applicable) in the United Kingdom, as defined in paragraphs 13(4) and 14(4) of Part II of Schedule 3 to the Act (Exercise of passport rights by EEA firms); or
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(in respect of a financial sector) applicable sectoral consolidation rules for that financial sector and the appropriate regulator's sectoral rules about capital adequacy and solvency for:which of those sets of rules apply for the purpose of a particular calculation depends on the nature of that calculation.
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(1) (for the purpose of the rules in GENPRU and INSPRU as they apply to members of the Society of Lloyd's, the Society and managing agents) an asset that , subject to paragraphs (2) and (3) of GENPRU 2 Annex 7, falls into one or more categories in paragraph (1) ofGENPRU 2 Annex 7 as modified by GENPRU 2.3.34 R .(2) otherwise:(a) (in relation to an insurer which is not a pure reinsurer) an asset that, subject to paragraphs (2) and (3) of GENPRU 2 Annex 7, falls into one or more categories in paragraph (1) of GENPRU 2 Annex 7; or(b) (in relation to a pure reinsurer) an asset the holding of which is consistent with compliance by the firm with INSPRU 3.1.61A R.
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(for the purposes of BIPRU 9 (Securitisation) and in accordance with Part 1 of Annex IX of the Banking Consolidation Directive (Securitisation definitions)) a programme of securitisations (within the meaning of paragraph (2) of the definition of securitisation) the securities issued by which predominantly take the form of commercial paper with an original maturity of one year or less.
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rules made by the appropriate regulator which require an authorised person who has permission to effecting or carry out contracts of insurance to identify assets which belong to him and which are maintained in respect of a particular aspect of his business.
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a management company within the meaning of Article 2(1)(b) of the UCITS Directive, as well as an undertaking the registered office of which is outside the EEA and which would require authorisation in accordance with Article 6(1) of the UCITS Directive if it had its registered office within the EEA.
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(in respect of a financial sector and in accordance with paragraph 6.9 of GENPRU 3 Annex 1 (Applicable sectoral consolidation rules)) the appropriate regulator's sectoral rules about capital adequacy and solvency on a consolidated basis applicable to that financial sector under the table in paragraph 6.10 of GENPRU 3 Annex 1.
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a person appointed under regulation 17A of the RCB Regulations.
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(as defined in the PD Regulation) securities which:(a) represent an interest in assets, including any rights intended to assure servicing, or the receipt or timeliness of receipts by holders of assets of amounts payable thereunder; or(b) are secured by assets and the terms of which provide for payments which relate to payments or reasonable projections of payments calculated by reference to identified or identifiable assets.
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that part of safeguarding and administering investments which consists solely of arranging for one or more other persons to carry on both:(a) the safeguarding of assets belonging to another; and(b) the administration of those assets.
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(in RCB) (as defined in Regulation 1(2) of the RCB Regulations) any property, right, entitlement or interest.
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a component of the calculation of the ECR for a firm carrying on general insurance business as set out in INSPRU 2.2.
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(in RCB) (as defined in Regulation 1(2) of the RCB Regulations) an asset pool within the meaning of Regulation 3 of the RCB Regulations.