Term
Definition
Letter: A
admissible asset
(in LLD) an asset that may be taken into account for the purposes of the solvency requirements in LLD 11.2.1R in accordance with LLD 13.4.1R.
- 01/12/2004
applicable sectoral consolidation rules
(in respect of a financial sector and in accordance with paragraph 6.10 of
PRU 8 Ann 1R G
(Applicable sectoral consolidation rules)) the
FSA's
sectoral rules about capital adequacy and solvency on a consolidated basis applicable to that financial sector under the table in paragraph 6.11 of PRU 8 Ann 1R G.
- 01/12/2004
applicable sectoral rules
(in respect of a financial sector) applicable sectoral consolidation rules for that financial sector and the
FSA's
sectoral rules about capital adequacy and solvency applicable to that financial sector under the table in paragraph 6.8 of PRU 8 Ann 1R Gwhich of those sets of rules apply for the purpose of a particular calculation depends on the nature of that calculation.
- 01/12/2004
arranging safeguarding and administration of assets
that part of safeguarding and administering investments which consists solely of arranging for one or more other persons to carry on both:
(a) the safeguarding of assets belonging to another; and
(b) the administration of those assets.
- 01/12/2004
asset identification rules
(as defined in subsection 142(2) of the Act (Insurance business: regulations supplementing Authority's rules))
rules made by the
FSA
which require an authorised person who has permission to effecting or carry out contracts of insurance to identify assets which belong to him and which are maintained in respect of a particular aspect of his business.
- 01/12/2004
asset management company
(for the purpose of ELM and
PRU 8 (Group risk)and in accordance with Article 2(5) of the Financial Groups Directive (Definitions)) a management company within the meaning of Article 1a(2) of the UCITS Directive, as well as an undertaking the registered office of which is outside the EEA and which would require authorisation in accordance with Article 5(1) of the UCITS Directive if it had its registered office within the EEA.
- 01/12/2004