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has the meaning in BIPRU 8.2.4 R (Definition of UK consolidation group), which is in summary the group that is identified as a UK consolidation group in accordance with the decision tree in BIPRU 8 Annex 1 R (Decision tree identifying a UK consolidation group); in each case only persons included under BIPRU 8.5 (Basis of consolidation) are included in the UK consolidation group.
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a company that is a:(a) UK bank; or(b) UK insurer; or(c) UK incorporated parent undertaking of a company referred to in (a) or (b) where the main business of the group to which the parent undertaking and the company belong is financial services.
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(as defined in section 3 of the Act (Market confidence)) the financial system operating in the United Kingdom including:(a) financial markets and exchanges;(b) regulated activities; and(c) other activities connected with financial markets and exchanges.
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(1) (except in REC) (as defined in paragraph 10 of Schedule 3 to the Act (EEA Passport Rights)) a person whose head office is in the United Kingdom and who has an EEA right to carry on activity in an EEA State other than the United Kingdom.(2) (in REC) means an investment firm or credit institution which has a Part IV permission to carry on one or more regulated activities.
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a UK domestic firm which has Part IV permission to carry on insurance mediation activity but no other regulated activity.
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the FSA acting in its capacity as the competent authority for the purposes of Part VI of the Act (Official Listing).
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the MCR calculated in accordance with INSPRU 1.5.44R by a non-EEA direct insurer (except a UK-deposit insurer, an EEA-deposit insurer or a Swiss general insurer) in relation to business carried on by the firm in the United Kingdom.
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a non-EEA insurer that has made a deposit in the United Kingdom under article 23 of the First Non-Life Directive in accordance with article 26 of that Directive or under article 51 of the Consolidated Life Directive in accordance with article 56 of that Directive.
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a parent financial holding company in a Member State where the EEA State in question is the United Kingdom.
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a UKfirm that:(a) is not part of a group that is subject to consolidated supervision by the FSA or any other regulatory body; or(b) is part of a group that is subject to consolidated supervision by the FSA and that group is not part of a wider group that is subject to consolidated supervision by a regulatory body other than the FSA .For the purposes of this definition:(c) Consolidated supervision of a group of persons means supervision of the adequacy of financial and other resources of that group on a consolidated basis. For example, this includes supervision under BIPRU 8 (Group risk consolidation).(d) It is not relevant whether or not any supervision by another regulatory body has been assessed as equivalent under the CRD or the Financial Groups Directive.(e) If the group is a UK consolidation group or financial conglomerate of which the FSA is lead regulator that is headed by an undertaking that is not itself the subsidiary undertaking of another undertaking the firm is a 'UK lead regulated firm'.This definition is not related to the defined term lead regulated firm.
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a firm that has its registered office (or, if it has no registered office, its head office) in the United Kingdom.
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a bank which is a body corporate or partnership formed under the law of any part of the United Kingdom.
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an insurer, other than a pure reinsurer or a non-directive insurer, whose head office is in the United Kingdom.
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the UK Corporate Governance Code published in May 2010 by the Financial Reporting Council.
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a pure reinsurer whose head office is in the United Kingdom.