Prudential Regulation Authority Rulebook

ancillary activity

means an activity which is not a regulated activity but which is:

(1) carried on in connection with a regulated activity; or

(2) held out as being for the purposes of a regulated activity.

ancillary insurance services undertaking

(1) (in the Financial Conglomerates Part of the PRA Rulebook) has the meaning given in Financial Conglomerates 1.4;

(2) (in relation to the Group Supervision Part of the PRA Rulebook) means, in relation to any undertaking in a group, an undertaking complying with the following conditions:

(a) its principal activity consists of:

(i) owning or managing property;

(ii) managing data-processing services;

(iii) providing health and care services; or

(iv) 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 group.

ancillary own funds

The changes to this defined term are effective from 23:00 on 31/12/2020.

(1) (in relation to a UK Solvency II firm and Lloyd’s) has the meaning given in Own Funds 2.3 and are determined in accordance with Own Funds 2.3 to 2.7; or

(2) (in relation to an insurance holding company) means an own funds item referred to in Article 89 of the Solvency II Directive, determined in accordance with (1) as if it were a UK Solvency II firm; or

(3) (in relation to a third country branch undertaking) means an own funds item referred to in Article 89 of the Solvency II Directive, determined in accordance with (1) as if it were a UK Solvency II firm.

ancillary service

The changes to this defined term are effective from 23:00 on 31/12/2020.

means any of the services listed in Part 3A of Schedule 2 to the Regulated Activities Order.

ancillary services undertaking

means an undertaking, the principal activity of which consists of owning or managing property, managing data-processing services, or a similar activity which is ancillary to the principal activity of one or more credit institutions, investment firms or insurers.