Part XXIX Interpretation

421 Group.

1

In this Act “group”, in relation to a person (“A”), means A and any person who is—

a

a parent undertaking of A;

b

a subsidiary undertaking of A;

c

a subsidiary undertaking of a parent undertaking of A;

d

a parent undertaking of a subsidiary undertaking of A;

e

an undertaking in which A or an undertaking mentioned in paragraph (a), (b), (c) or (d) has a participating interest;

f

if A or an undertaking mentioned in paragraph (a) or (d) is a building society, an associated undertaking of the society; or

g

if A or an undertaking mentioned in paragraph (a) or (d) is an incorporated friendly society, a body corporate of which the society has joint control (within the meaning of section 13(9)(c) or (cc) of the M1Friendly Societies Act 1992).

2

“Participating interest” has the same meaning as in Part VII of the M3Companies Act 1985 or Part VIII of the M4Companies (Northern Ireland) Order 1986; but also includes an interest held by an individual which would be a participating interest for the purposes of those provisions if he were taken to be an undertaking.

3

“Associated undertaking” has the meaning given in section 119(1) of the M2Building Societies Act 1986.