Glossary

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Term Definition Legal instruments

management body

31/12/2020

THIS DEFINITION ONLY APPLIES TO THE GROUP FINANCIAL SUPPORT PART

The changes to this defined term are effective from 23:00 on 31/12/2020.

means a BRRD undertaking’s body or bodies, which are appointed in accordance with UK law, which are empowered to set the BRRD undertaking’s strategy, objectives and overall direction, and which oversee and monitor management decision-making, and include the persons who effectively direct the business of the BRRD undertaking.