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(in relation to any undertaking in a consolidation group, sub-group or other group of persons) an undertaking complying with the following conditions:(a) its principal activity consists of:(i) owning or managing property; or(ii) managing data-processing services; or(iii) any other similar activity;(b) the activity in (a) is ancillary to the principal activity of one or more insurance undertakings; and(c) those insurance undertakings are also members of that consolidation group, sub-group or other group of persons.
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(1) (in accordance with Article 4(21) of the Banking Consolidation Directive (Definitions) and subject to (2)) and in relation to an undertaking in a consolidation group, sub-group or another group of persons) an undertaking complying with the following conditions:(a) its principal activity consists of:(i) owning or managing property; or(ii) managing data-processing services; or(iii) any other similar activity;(b) the activity in (a) is ancillary to the principal activity of one or more credit institutions or investment firms; and(c) those credit institutions or investment firms are also members of that consolidation group, sub-group or group.(2) (for the purpose of GENPRU 1.3 (Valuation) and INSPRU 6.1 (Group Risk: Insurance Groups) an undertaking in (1) and an ancillary insurance services undertaking.
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(In COMP) (in accordance with the compensation transitionals order) a person who was, at any time before commencement, authorised under section 3 or 4 of the Insurance Companies Act 1982 to carry on insurance business of any class in the United Kingdom.
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an activity which is not a regulated activity but which is:(a) carried on in connection with a regulated activity; or(b) held out as being for the purposes of a regulated activity.
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(a) a reinsurance to close effected before 1 January 2005; or(b) an agreement under which members of a syndicate in one syndicate year ("the reinsured members") agree with the members of that syndicate in a later syndicate year or the members of another syndicate ("the reinsuring members") that the reinsuring members will discharge, or procure the discharge of, or indemnify the reinsured members against, all known and unknown insurance business liabilities of the reinsured members arising out of the insurance business carried on by the reinsured members in that syndicate year that is:(i) effected after 1 January 2005; and(ii) not a balance transfer between two syndicate years where the syndicate has only one member and the member is the same in each of those years.
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any of the services listed in Section B of Annex I to MiFID.
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the regulated activity, specified in article 39A of the Regulated Activities Order (Assisting in the administration and performance of a contract of insurance) of assisting in the administration and performance of a contract of insurance.
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the regulated activity, specified in article 58 of the Regulated Activities Order (Arranging deals in contracts of insurance written at Lloyd's), carried on by the Society of Lloyd's of arranging deals in contracts of insurance written at Lloyd's.
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(as defined in Article 2 of the Buy-back and Stabilisation Regulation) the exercise of an overallotment facility or of a greenshoe option by investment firms or credit institutions, in the context of a significant distribution of relevant securities, exclusively for facilitating stabilisation activity.
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(in the context of the rules in INSPRU 1.1 concerning the calculation of the general insurance capital requirement), health insurance which meets all the conditions set out in INSPRU 1.1.72 R .
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(in relation to an insurer with permission under the Act to insure a principal risk belonging to one class (as defined for the purposes of AUTH, INSPRU and SUP) of general insurance business) a risk included in another such class which is:(a) connected with the principal risk,(b) concerned with the object which is covered against the principal risk, and(c) the subject of the same contract insuring the principal risk.However, the risks included in classes 14, 15 and 17 may not be treated as risks ancillary to other classes, except that the risk included in class 17 (legal expenses insurance) may be regarded as an ancillary risk of class 18 where:(d) the conditions laid down in (a) to (c) are fulfilled, and(e) the principal risk relates solely to assistance provided for persons who fall into difficulties while travelling, while away from home or while away from their permanent residence or where it concerns disputes or risks arising out of, or in connection with, the use of sea-going vessels.