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an activity which is not a regulated activity but which is:(a) carried on in connection with a regulated activity; or(b) held out as being for the purposes of a regulated activity.
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means an activity which is not a regulated activity but which is:
(1) carried on in connection with a regulated activity; or
(2) held out as being for the purposes of a regulated activity.
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(in relation to any undertaking in a consolidation group, sub-group or other 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 insurance undertakings; and(c) those insurance undertakings are also members of that consolidation group, sub-group or other group of persons.
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(A) In the PRA Handbook:any of the services listed in Section B of Annex I to MiFID, that is:(a) safekeeping and administration of financial instruments for the account of clients, including custodianship and related services such as cash/collateral management;(b) granting credits or loans to an investor to allow him to carry out a transaction in one or more financial instruments, where the firm granting the credit or loan is involved in the transaction;(c) advice to undertakings on capital structure, industrial strategy and related matters and advice and services relating to mergers and the purchase of undertakings;(d) foreign exchange services where these are connected to the provision of investment services;(e) investment research and financial analysis or other forms of general recommendation relating to transactions in financial instruments;(f) services related to underwriting; and(g) investment services and activities as well as ancillary services within (a) to (f), above, related to the underlying of the derivatives included under Section C - 5, 6, 7 and 10, that is (in accordance with that Annex and Recital 21 to, and Article 39 of, the MiFID Regulation):[Note: article 4(1)(3) of MiFID](i) commodities;(ii) climatic variables;(iii) freight rates;(iv) emission allowances;(v) inflation rates or other official economic statistics;(vi) telecommunications bandwidth;(vii) commodity storage capacity;(viii) transmission or transportation capacity relating to commodities, where cable, pipeline or other means;(ix) an allowance, credit, permit, right or similar asset which is directly linked to the supply, distribution or consumption of energy derived from renewable resources;(x) a geological, environmental or other physical variable;(xi) any other asset or right of a fungible nature, other than a right to receive a service, that is capable of being transferred;(xii) an index or measure related to the price or value of, or volume of transactions in any asset, right, service or obligation;where these are connected to the provision of investment services or ancillary services.(B) In the FCA Handbook:(1) (except in CONC) any of the services listed in Section B of Annex I to MiFID, that is:(a) safekeeping and administration of financial instruments for the account of clients, including custodianship and related services such as cash/collateral management;(b) granting credits or loans to an investor to allow him to carry out a transaction in one or more financial instruments, where the firm granting the credit or loan is involved in the transaction;(c) advice to undertakings on capital structure, industrial strategy and related matters and advice and services relating to mergers and the purchase of undertakings;(d) foreign exchange services where these are connected to the provision of investment services;(e) investment research and financial analysis or other forms of general recommendation relating to transactions in financial instruments;(f) services related to underwriting; and(g) investment services and activities as well as ancillary services within (a) to (f), above, related to the underlying of the derivatives included under Section C - 5, 6, 7 and 10, that is (in accordance with that Annex and Recital 21 to, and Article 39 of, the MiFID Regulation):[Note: article 4(1)(3) of MiFID](i) commodities;(ii) climatic variables;(iii) freight rates;(iv) emission allowances;(v) inflation rates or other official economic statistics;(vi) telecommunications bandwidth;(vii) commodity storage capacity;(viii) transmission or transportation capacity relating to commodities, where cable, pipeline or other means;(ix) an allowance, credit, permit, right or similar asset which is directly linked to the supply, distribution or consumption of energy derived from renewable resources;(x) a geological, environmental or other physical variable;(xi) any other asset or right of a fungible nature, other than a right to receive a service, that is capable of being transferred;(xii) an index or measure related to the price or value of, or volume of transactions in any asset, right, service or obligation;where these are connected to the provision of investment services or ancillary services.(2) (in CONC) a service that relates to entering into a regulated credit agreement as lender and includes, in particular, an insurance or payment protection policy.
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(A) In the PRA Handbook:the regulated activity, specified in article 64 of the Regulated Activities Order (Agreeing to carry on specified kinds of activity), of agreeing to carry on an activity specified in Part II or Part 3A of that Order other than:(a) accepting deposits;(aa) issuing electronic money;(B) In the FCA Handbook:the regulated activity, specified in article 64 of the Regulated Activities Order (Agreeing to carry on specified kinds of activity), of agreeing to carry on an activity specified in Part II or Part 3A of that Order other than:(a) accepting deposits;(aa) issuing electronic money;(ca) managing a UCITS;(cc) managing an AIF;
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(A) In the PRA Handbook(1) (in accordance with Article 4(21) of the Banking Consolidation Directive (Definitions) 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.(2) (for the purpose of GENPRU 1.3 (Valuation) and INSPRU 6.1 (Group Risk: Insurance Groups) an undertaking in (1) and an .(B) In the FCA Handbook(1) (in accordance with Article 4(21) of the Banking Consolidation Directive (Definitions) for 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.2) (for the purpose of GENPRU 1.3 (Valuation) and INSPRU 6.1 (Group Risk: Insurance Groups) an undertaking in (1) and an .(3) (except in (1)) has the meaning in article 4(1)(18) of the EU CRR.
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(in relation to an insurer with permission under the Act to insure a principal risk belonging to one class (as defined for the purposes of INSPRU and SUP) of general insurance business) a risk included in another such class which is:(a) connected with the principal risk,(b) concerned with the object which is covered against the principal risk, and(c) the subject of the same contract insuring the principal risk.However, the risks included in classes 14, 15 and 17 may not be treated as risks ancillary to other classes, except that the risk included in class 17 (legal expenses insurance) may be regarded as an ancillary risk of class 18 where:(d) the conditions laid down in (a) to (c) are fulfilled, and(e) the principal risk relates solely to assistance provided for persons who fall into difficulties while travelling, while away from home or while away from their permanent residence or where it concerns disputes or risks arising out of, or in connection with, the use of sea-going vessels.