Commission Delegated Regulation (EU) 2016/438Show full title

Article 1 U.K. Definitions

For the purpose of this Regulation, the following definitions shall apply:

(a)

‘link’ means a situation in which two and more natural or legal persons are either linked by a direct or indirect holding in an undertaking which represents 10 % or more of the capital or of the voting rights or which makes it possible to exercise a significant influence over the management of the undertaking in which that holding subsists;

(b)

‘group link’ means a situation in which two or more undertakings or entities belong to the same group within the meaning of Article 2(11) of Directive 2013/34/EU of the European Parliament and of the Council(1) or international accounting standards adopted in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council(2);

(c)

[F1 ‘Collective Investment Schemes sourcebook’ means the Collective Investment Schemes sourcebook made under the Financial Services and Markets Act 2000 by the competent authority, as it has effect on [F2 1 January 2022];

(d)

‘competent authority’ means the Financial Conduct Authority;

(e)

‘CRR firm’ has the meaning given in Article 4(1)(2A) of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26th June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012;

(f)

‘management company’ has the meaning given in section 237(2) of the Financial Services and Markets Act 2000;

(g)

‘third country’ means any country other than the United Kingdom;

(h)

‘UK UCITS’ has the meaning given in section 237(3) of the Financial Services and Markets Act 2000.]

Textual Amendments

F1 Arts. 1(c)-(h) inserted (31.12.2020) by The Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/325), regs. 1(2), 60(4) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 18(f)) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F2 Words in Art. 1(c) substituted (1.1.2022) by The Financial Services and Markets Act 2000 (Consequential Amendments of References to Rules) Regulations 2021 (S.I. 2021/1388), regs. 1(2), 6

(1)

Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC (OJ L 182, 29.6.2013, p. 19).

(2)

Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards (OJ L 243, 11.9.2002, p. 1).