UK relevant authorised person
- (a) it is incorporated in, or formed under the law of any part of, the United Kingdom;
- (b) it does not have permission for effecting contracts of insurance or carrying out contracts of insurance; and
- (c) it meets one of the following conditions:
- (i) its Part 4A permission includes accepting deposits; or
- (ii) it meets all the following conditions:
- (A) the institution is an investment firm;
- (B) its Part 4A permission covers dealing in investments as principal; and
- (C) when carried on by it, that activity is a PRA-regulated activity.
65has the meaning in section 71A of the Act (‘relevant authorised person’) which, in summary, is an institution that meets the following conditions: