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controlled function

    a function, relating to the carrying on of a regulated activity by a firm, which is specified by:178

      1. (a) either the FCA in:178
        1. (i) (for SMCR firms227) the 182182table of FCA-designated senior management functions227; or178
        1. (ii) (for other firms and in relation to appointed representatives227) the table of FCA controlled functions; or178
      1. (b) the PRA in:178
        1. (i) (for CRR firms, credit unions and third country CRR firms (as defined in the PRA Rulebook)227) the part of the PRA Rulebook227 titled ‘Senior Management Functions’178; or227
        1. (ii) 182(for Solvency II firms including large non-directive insurers, and for small non-directive insurers186) the Senior 227Management Functions parts of the186 PRA Rulebook227 182applicable to Solvency II Firms and Non-Solvency II Firms; 186227178
        1. 227186182

    under section 59 of the Act (Approval for particular arrangements).178