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means all expenses, other than commission, incurred in the administration of a firm or its business.
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(A) In the FCA Handbook:(1) (except in INSPRU ) (in accordance with section 223 of the Act (Management expenses)) expenses incurred or expected to be incurred by the FSCS in connection with its function under the Act, other than compensation costs and costs incurred under Part 15A of the Act; for the purposes of FEES 6 these are subdivided into base costs, specific costs and establishment costs.(2) (in INSPRU ) in relation to long-term insurance business, means all expenses, other than commission, incurred in the administration of an insurer or its business.(B) In the PRA Handbook:in relation to long-term insurance business, means all expenses, other than commission, incurred in the administration of an insurer or its business.
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(in accordance with article 2(1)(b) of the UCITS Directive) a company, the regular business of which is the management of UCITS in the form of unit trusts, common funds (including authorised contractual schemes) or investment companies (collective portfolio management), including, where permitted by its Home State regulator, the additional services referred to in article 6(3) of that directive.
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(in relation to a UK recognised body) accounts showing the actual and budgeted income and expenditure of that body over any period.
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(A) (In the PRA Handbook):(in accordance with article 3(7) of CRD) the governing body and senior personnel of a CRR firm who are empowered to set the firm's strategy, objectives and overall direction, and which oversee and monitor management decision-making.(B) (In the FCA Handbook):(in accordance with article 3(7) of CRD) the governing body and senior personnel of a CRR firm who are empowered to set the firm's strategy, objectives and overall direction, and which oversee and monitor management decision-making.
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(A) (In the PRA Handbook):the management body acting in its role of overseeing and monitoring management decision-making.(B) (In the FCA Handbook):the management body acting in its role of overseeing and monitoring management decision-making.