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qualifying parent undertaking

    25has the meaning in section 192B (meaning of "qualifying parent undertaking") of the Act which, in summary, is a parent undertaking of:

      1. (a) an authorised person that is a body corporate incorporated in the UK 26that26 is:
        1. (i) a PRA-authorised person; or
        1. (ii) an investment firm; or
      1. (b) a recognised investment exchange that is not an overseas investment exchange;

    where the parent undertaking is:

      1. (c) a body corporate which:
        1. (i) is incorporated in the UK; or
        1. (ii) has a place of business in the UK;
      1. (d) not an authorised person, a recognised investment exchange or a recognised clearing house; and
      1. (e) any of the following:
        1. (i) an insurance holding company;
        1. (ii) a financial holding company;
        1. (iii) a mixed financial holding company;
        1. (iv) for certain purposes, a mixed-activity holding company.