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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.

ancillary services undertaking

      1. 116(1) (154for the purpose of GENPRU (except in GENPRU 3) and BIPRU (except in BIPRU 12) and subject to (2)) and in relation to an undertaking in a consolidation group, sub-group or another group of persons) an undertaking complying with the following conditions:
        1. (a) its principal activity consists of:
          1. (i) owning or managing property; or
          1. (ii) managing data-processing services; or
          1. (iii) any other similar activity;
        1. (b) the activity in (a) is ancillary to the principal activity of one or more credit institutions or investment firms; and
        1. (c) those credit institutions or investment firms are also members of that consolidation group, sub-group or group.
        [Note: article 4(21) of the Banking Consolidation Directive (Definitions)]154
      1. 2) (for the purpose of GENPRU 1.3 (Valuation) and INSPRU 6.1 (Group Risk: Insurance Groups) an undertaking in (1) and an .
      1. (3) (except in (1)) has the meaning in article 4(1)(18) of theUK CRR154..