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Term Definition Legal instruments



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

(in the Solvency II Firms Sector of the PRA Rulebook) means:

(1) the ownership, direct or by way of control, of 20% or more of the voting rights or capital of an undertaking; or

(2) where, in accordance with the definition of ‘participating undertaking’ in Regulation 2(1) of the Solvency 2 Regulations, an undertaking effectively exercises a significant influence over another undertaking.

Additional Notes

[Note: Art. 13(20) and 212(2) of the Solvency II Directive]