ancillary services undertaking
- 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:
- (a) its principal activity consists of:
- (i) owning or managing property; or
- (ii) managing data-processing services; or
- (iii) any other similar activity;
- (b) the activity in (a) is ancillary to the principal activity of one or more credit institutions or investment firms; and
- (c) those credit institutions or investment firms are also members of that consolidation group, sub-group or group.
- (a) its principal activity consists of:
- (2) (for the purpose of GENPRU 1.3 (Valuation) and INSPRU 6.1 (Group Risk: Insurance Groups) an undertaking in (1) and an .