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(in accordance with Article 2(15) of the Financial Groups Directive (Definitions)) a parent undertaking, other than a regulated entity, which meets the following conditions:(a) it, together with its subsidiary undertakings, at least one of which is an EEA regulated entity, and other entities, constitutes a financial conglomerate;(b) it has been notified by its coordinator that its group is a financial conglomerate in accordance with Article 4(2) of the Financial Groups Directive; and(c) it has not been notified that its coordinator and other relevant competent authorities have agreed not to treat the group as a financial conglomerate in accordance with Article 3(3) or Article 3(3a) of the Financial Groups Directive.
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one of the following:(a) (in accordance with Article 4(20)of the Banking Consolidation Directive (Definitions)) a parent undertaking, other than a financial holding company, a credit institution or a mixed financial holding company, the subsidiary undertakings of which include at least one credit institution; or(b) (in accordance with Articles 2(2) and 37(1) of the Capital Adequacy Directive (Supervision on a consolidated basis) and in relation to a banking and investment group without any credit institutions in it) a parent undertaking, other than a financial holding company, an investment firm or a mixed financial holding company, the subsidiary undertakings of which include at least one investment firm.
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(in accordance with Article 1(j) of the Insurance Groups Directive (Definitions)) a parent undertaking, other than an insurance undertaking, an insurance holding company or a mixed financial holding company, the subsidiary undertakings of which include at least one insurance undertaking.
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a remittance that is part client money and part other money.
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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 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 class of contract of insurance ) the class of contract of insurance, specified in paragraph 16 of Part I of Schedule 1 to the Regulated Activities Order (General contracts of insurance), against any of the following risks:(a) risks of loss to the persons insured attributable to interruptions of the carrying on of business carried on by them or to reduction of the scope of business so carried on;(b) risks of loss to the persons insured attributable to their incurring unforeseen expense (other than loss such as is covered by contracts within paragraph 18 of Part I of Schedule 1 to the Regulated Activities Order (Assistance));(c) risks which do not fall within paragraphs (a) or (b) and which are not of such a kind that contracts of insurance against them fall within any other provision of Schedule 1 to the Regulated Activities Order.
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(1) [deleted](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 (BIPRU firm only)).
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an insurer (other than a pure reinsurer) which carries on reinsurance business and where one or more of the following conditions is met in respect of its reinsurance acceptances:(a) the premiums collected in respect of those acceptances during the previous financial year exceeded 10% of its total premiums collected during that year;(b) the premiums collected in respect of those acceptances during the previous financial year exceeded €50 million; and(c) the technical provisions in respect of those acceptances at the end of the previous financial year exceeded 10% of its total technical provisions at the end of that year.
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(in LR) a company or group, whose principal activity is, or is planned to be, the extraction of mineral resources (which may or may not include exploration for mineral resources).
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(in relation to a financial sector in a consolidation group or a financial conglomerate and in accordance with GENPRU 3.1 (Cross sector groups)) the financial sector with the largest average referred to in the box titled Threshold Test 2 in the financial conglomerate definition decision tree (10% ratio of balance sheet size and solvency requirements); and so thatthe investment services sector and the banking sector are treated as one for the purpose of the definition of financial conglomerate and for any other purpose that GENPRU 3.1 (Cross sector groups) says they are.
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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).