The Rulebook Glossary contains defined terms used in more than one Part across the PRA Rulebook. The full Glossary can be printed (including to pdf) or emailed using the icons.
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You are viewing the Rulebook in the past on 01/12/2004
(a) which is subject to regulation by a national regulatory body in connection with its custody services;
(b) which is required to prepare audited accounts;
(c) whose latest annual audit report is not materially qualified; and
(d) which
(i) has minimum net assets of £5 million (or its equivalent in any other currency at the relevant time) and has surplus revenue over expenditure for the last two financial years; or
(ii) if not, nevertheless has adequate financial resources for its business.
a person in relation to whom the
FSA
has given its approval under section 59 of the Act (Approval for particular arrangements) for the performance of a controlled function.
(iii) a bank which is regulated in the Isle of Man or the Channel Islands; or
(c) a bank supervised by the South African Reserve Bank; or
(d) any other bank that:
(i) is subject to regulation by a national banking regulator;
(ii) is required to provide audited accounts;
(iii) has minimum net assets of £5 million (or its equivalent in any other currency at the relevant time) and has a surplus revenue over expenditure for the last two financial years; and
(iv) has an annual audit report which is not materially qualified.
(in COLL and CIS) any person falling within (a-c).
