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Term Definition Legal instruments

group

31/12/2020

THIS DEFINITION ONLY APPLIES TO THE GROUP RISK SYSTEMS PART

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

means, in relation to a person ("A"), A and any person:

(1) within the scope of section 421 of the Act; 

(2) who has a common management relationship with A;

(3) who has a common management relationship with any person in (1);

(4) who is a subsidiary undertaking of a person in (2) or (3); or

(5) whose omission from an assessment of the risks to A of A's connection to any person coming within (1) to (4) or an assessment of the financial resources available to such persons would be misleading.