Status: You are viewing the version of the handbook as on 2018-12-09.

closely related

    48(in GENPRU and BIPRU) describes a relationship between two or more persons under which one or more of the following applies:

      1. (a) the insolvency or default of one of them is likely to be associated with the insolvency or default of the others;
      1. (b) it would be prudent when assessing the financial condition or creditworthiness of one to consider that of the others; or
      1. (c) there is, or there is likely to be, a close relationship between the financial performance of those persons.