Prudential Regulation Authority Rulebook

10.1

In this Part, a group of persons is closely related if it consists solely of two or more persons who, unless it is shown otherwise, constitute a single risk because as between any two of them one or other of the following relationships apply:

1. (1) one of them, directly or indirectly, has control over the other or they are both controlled by the same third party; or
2. (2) there is no relationship of control but they are to be regarded as constituting a single risk because they are so interconnected that, if one of them were to experience financial problems, the other would be likely to encounter repayment difficulties.