Content Options

Content Options

View Options

Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

participation

      1. 114
        1. (1) (for the purposes of118 GENPRU (except GENPRU 3) and for the purposes of BIPRU (except BIPRU 12)122 as they apply on a consolidated basis):
          1. (a) a participating interest may be defined according to:
            1. (i) section 421A of the Act where applicable; or
            1. (ii) paragraph 11(1) of Schedule 10 to the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 (SI 2008/410) where applicable; or
            1. (iii) paragraph 8 of Schedule 7 to the Small Companies and Groups (Accounts and Directors' Report) Regulations 2008 (SI 2008/409) where applicable; or
            1. (iv) paragraph 8 of Schedule 4 to the Large and Medium-sized Limited Liability Partnerships (Accounts) Regulations 2008 (SI 2008/1913) where applicable; or
            1. (v) paragraph 8 of Schedule 5 to the Small Limited Liability Partnerships (Accounts) Regulations 2008 (SI 2008/1912) where applicable; or
          1. (b) (otherwise) the direct or indirect ownership of 20% or more of the voting rights or capital of an undertaking;
          but excluding the interest of a parent undertaking in its subsidiary undertaking.
        1. (2) (except in (1) has the meaning in article 4(1)(35) of the UK CRR178.