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prescribed responsibility

10/12/2018

THIS DEFINITION ONLY APPLIES TO THE INSURANCE - ALLOCATION OF RESPONSIBILITIES PART

(1) for a firm (other than a third country branch undertaking or a small run-off firm) means the responsibilities in 3.1 and 3.3;

(2) for a third country branch undertaking (other than a UK-deposit insurer or a Swiss general insurer) means the responsibilities set out in 3.1 and 3.3 to the extent only that they are relevant to the operations effected by its third country branch, save in relation to 3.1(4) which shall also take account of the operations of the third country branch undertaking to the same extent as is necessary to ensure compliance by the third country branch undertaking with Third Country Branches 13;

(3) for a UK-deposit insurer, means the responsibilities set out in 3.1 and 3.3 to the extent only that they are relevant to the operations effected by its third country branch and all its third country undertaking EEA branches, save in relation to 3.1(4) which shall also take account of the operations of the third country branch undertaking to the same extent as is necessary to ensure compliance by the third country branch undertaking with Third Country Branches 13;

(4) for a small run-off firm means the responsibilities in 3.2.