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means the regulated activity specified in article 63S of the Regulated Activities Order.
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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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means analogous non-reinsurance financing agreements, including contingent loans, securitisations and any other arrangements in respect of contracts of insurance that are analogous to contracts of reinsurance in terms of the risks transferred and the finance provided.
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means
(1) (in relation to a company incorporated in the UK) an annual report and annual accounts as those terms are defined in section 471 of the Companies Act 2006 together with an auditor's report prepared in relation to those accounts under sections 495 to 497A of the same Act;
(2) (in relation to any other body) any similar or analogous documents which it is required to prepare whether by its constitution or by the law under which it is established. -
means the regulated activity, specified in article 64 of the Regulated Activities Order (Agreeing to carry on specified kinds of activity).
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means (in relation to a person) an undertaking in the same group as that person.
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has the meaning given in the Glossary to the FCA Handbook.
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means a person in relation to whom the FCA or the PRA has given its approval under section 59 of FSMA (Approval for particular arrangements) for the performance of a controlled function.
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The changes to this defined term are effective from 23:00 on 31/12/2020.
means a legal person whose regular business is managing one or more alternative investment funds.
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The changes to this defined term are effective from 23:00 on 31/12/2020.
means a collective investment undertaking, including investment compartments thereof which:
(1) raises capital from a number of investors, with the intention of investing it in accordance with a defined investment policy for the benefit of those investors; and
(2) does not require authorisation pursuant to article 5 of the UCITS Directive.
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This term is defined externally, please refer to:
s237(3) FSMA
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(1) (in the Financial Conglomerates Part of the PRA Rulebook) has the meaning given in Financial Conglomerates 1.4;
(2) (in relation to the Group Supervision Part of the PRA Rulebook) means, in relation to any undertaking in a group, an undertaking complying with the following conditions:
(a) its principal activity consists of:
(i) owning or managing property;
(ii) managing data-processing services;
(iii) providing health and care services; or
(iv) any other similar activity;
(b) the activity in (a) is ancillary to the principal activity of one or more insurance undertakings; and
(c) those insurance undertakings are also members of that group.
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means a fellow of an actuarial body or (in connection with general insurance business) a Fellow of the Casualty Actuarial Society who is a member of an actuarial body.
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means the Institute and Faculty of Actuaries.
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means an activity which is not a regulated activity but which is:
(1) carried on in connection with a regulated activity; or
(2) held out as being for the purposes of a regulated activity.
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The changes to this defined term are effective from 23:00 on 31/12/2020.
means an undertaking with a Part 4A permission under Article 51ZA of the Regulated Activities Order (Managing a UCITS) or an undertaking, the registered office of which is outside the UK and which would require such permission if it had its registered office within the UK.
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means the regulated activity, specified in article 53 of the Regulated Activities Order (Advising on investments).
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means Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010.