Glossary

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ancillary insurance services undertaking
Term Definition Legal instruments

consolidation group

01/01/2016

THIS DEFINITION ONLY APPLIES TO THE FINANCIAL CONGLOMERATES PART

means:

(1) a conventional group; or

(2) undertakings linked by an Article 12(1) relationship or an Article 18(6) relationship.

If a parent undertaking or subsidiary undertaking in a conventional group (the first person) has a consolidation Article 12(1) relationship or an Article 18(6) relationship with another person (the second person), the second person, and any subsidiary undertaking of the second person, is also a member of the same conventional group.