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(in COBS ) (in relation to a transaction) any interest of a material nature, other than:(a) disclosable commission on the transaction;(b) goods or services which can reasonably be expected to assist in carrying on designated investment business with or for clients and which are provided or to be provided in compliance with COBS 11.6.3 R.
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outsourcing services of such importance that weakness, or failure, of the services would cast serious doubt upon the firm's continuing satisfaction of the threshold conditions or compliance with the Principles.
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(1) ( for the purposes of ELM) a holding or position set out in ELM 2.4.17 R (Material holdings).(2) (for the purposes of GENPRU and BIPRU) has the meaning in GENPRU 2.2.209 R (Deductions from tiers one and two: Material holdings).
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has the meaning in GENPRU 2.2.212R (Material holdings) or, for an exempt CAD firm which is an investment management firm, in IPRU(INV) Table 5.2.2(1).