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The Rulebook Glossary contains defined terms used in more than one Part across the PRA Rulebook.

The full Glossary can be downloaded as a PDF or printed using the icons to the right.

Term Definition Legal instruments for this definition

Head of Internal Audit function


has the meaning given in Senior Management Functions 3.5.

Holloway sickness policy


means a contract of long-term insurance offered or effected by a friendly society under the Holloway system, providing permanent health benefits and, in addition, investment benefits, where the investment benefits:

(1) are derived from surpluses accrued by the friendly society and apportioned to policyholders; and

(2) are payable to policyholders at maturity, on retirement, on death, or as otherwise specified by contractual provisions or individual society rules.

home Member State


has the meaning given in Article 4(1)(43) of the CRR.