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the regulated activity, specified in article 51ZB of the Regulated Activities Order which is, in summary, acting as:(a) a trustee of an authorised unit trust scheme; or(b) a depositary of an open-ended investment company; or(c) a depositary of an authorised contractual scheme;where that company or scheme is a UCITS.
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the regulated activity, specified in article 51ZD of the Regulated Activities Order, which is, in summary, acting as:(b) the trustee of an authorised unit trust which is an AIF that does not fall within article 51ZD(2) of the Regulated Activities Order;(c) the depositary of an open-ended investment company or of an authorised contractual scheme which is an AIF that does not fall within article 51ZD(2) of the Regulated Activities Order.
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the regulated activity, specified in article 51(1)(c) of the Regulated Activities Order (Establishing etc a collective investment scheme), of acting as the depositary or sole director of an open-ended investment company.
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the regulated activity, specified in article 51(1)(b) of the Regulated Activities Order (Establishing etc a collective investment scheme), of acting as a trustee of an authorised unit trust scheme.
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the regulated activity, specified in article 39A of the Regulated Activities Order (Assisting in the administration and performance of a contract of insurance) of assisting in the administration and performance of a contract of insurance.
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a professional firm which is an authorised person.
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(in relation to any prescribed market) an approved channel of communication by which information concerning investments traded on the market is formally disseminated to other market users on a structured and equitable basis.
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a person appointed under regulation 17A of the RCB Regulations.
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that part of safeguarding and administering investments which consists solely of arranging for one or more other persons to carry on both:(a) the safeguarding of assets belonging to another; and(b) the administration of those assets.
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(in relation to a firm) a person resident in the United Kingdom who is authorised to act generally, and to accept service of any document, on behalf of the firm.
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(as defined in section 237(3) of the Act (Other definitions)) a unit trust scheme which is authorised for the purposes of the Act by an authorisation order.
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any depositary:(a) which is subject to regulation by a national regulatory body in connection with its custody services;(b) which is required to prepare audited accounts;(c) whose latest annual audit report is not materially qualified; and(d) which(i) has minimum net assets of £5 million (or its equivalent in any other currency at the relevant time) and has surplus revenue over expenditure for the last two financial years; or(ii) if not, nevertheless has adequate financial resources for its business.
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(1) (in LR) (in relation to a director, substantial shareholder, or person exercising significant influence, who is an individual):(a) that individual's spouse , civil partner or child (together "the individual's family");(b) the trustees (acting as such) of any trust of which the individual or any of the individual's family is a beneficiary or discretionary object (other than a trust which is either an occupational pension scheme or an employees' share scheme which does not, in either case, have the effect of conferring benefits on persons all or most of whom are related parties;(c) any company in whose equity securities the individual or any member or members (taken together) of the individual's family or the individual and any such member or members (taken together) are directly or indirectly interested (or have a conditional or contingent entitlement to become interested) so that they are (or would on the fulfilment of the condition or the occurrence of the contingency be) able:(i) to exercise or control the exercise of 30% or more of the votes able to be cast at general meetings on all, or substantially all, matters; or(ii) to appoint or remove directors holding a majority of voting rights at board meetings on all, or substantially all, matters;(d) any partnership whether a limited partnership or limited liability partnership in which the individual or any member or members (taken together) of the individual's family are directly or indirectly interested (or have a conditional or contingent entitlement to become interested) so that they hold or control or would on the fulfilment of the condition or the occurrence of the contingency be able to hold or control:For the purpose of paragraph (c), if more than one director of the listed company, its parent undertaking or any of is subsidiary undertakings is interested in the equity securities of another company, then the interests of those directors and their associates will be aggregated when determining whether that company is an associate of the director.(i) a voting interest greater than 30% in the partnership; or(ii) at least 30% of the partnership.(2) (in LR) (in relation to a substantial shareholder or person exercising significant influence, which is a company):(a) any other company which is its subsidiary undertaking or parent undertaking or fellow subsidiary undertaking of the parent undertaking;(b) any company whose directors are accustomed to act in accordance with the substantial shareholder's or person exercising significant influence's, directions or instructions;(c) any company in the capital of which the substantial shareholder or person exercising significant influence and any other company under paragraph (1) or (2) taken together, is (or would on the fulfilment of a condition or the occurrence of a contingency be) able to exercise power of the type described in paragraph (1)(c)(i) or (ii) of this definition.(3) (except in LR)(in relation to a person ("A")):(a) an affiliated company of A;
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a right to acquire a particular amount of the relevant security or of any associated security at a future date at a particular price.
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(in BIPRU 7.10 (Use of a Value at Risk Model)) has the meaning in BIPRU 7.10.116A R (Capital calculations for VaR models), which is, in relation to a business day, the all price risk measure required under the provisions in BIPRU 7.10 about specific risk for the correlation trading portfolio.
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a with-profits insurance contract which has a readily identifiable current benefit, whether or not this benefit is currently realisable, which is adjusted by an amount explicitly related to the amount of any premium payment and to which additional benefits are added in respect of participation in profits by additions directly related to the current benefit or a policy with similar characteristics.
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the regulated activity, specified in article 53A of the Regulated Activities Order, which is in summary: advising a person if the advice:(a) is given to the person in his capacity as a borrower or potential borrower; and(b) is advice on the merits of his:(i) entering into a particular regulated mortgage contract; or(ii) varying the terms of a regulated mortgage contract entered into by him on or after 31 October 2004 in such a way as to vary his obligations under that contract.
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(in respect of a financial sector) applicable sectoral consolidation rules for that financial sector and the appropriate regulator's sectoral rules about capital adequacy and solvency for:which of those sets of rules apply for the purpose of a particular calculation depends on the nature of that calculation.