Article 8 Meaning of qualifying group member

(1)

An organisation is a qualifying group member in relation to a UK deposit-taker if that organisation has provided to that UK deposit-taker a declaration in accordance with paragraph (2) (a “qualifying group member declaration”).

(2)

A qualifying group member declaration must—

(a)

contain a statement that the organisation giving the declaration is a member of the same group^f1 as a qualifying organisation (the “relevant qualifying organisation”); and

(b)

be either—

(i)

accompanied by a declaration (a “supporting declaration”) which complies with paragraph (3), or

(ii)

accepted by the UK deposit-taker to which the declaration is given without being accompanied by a supporting declaration, in accordance with paragraph (4).

(3)

In relation to a qualifying group member declaration, a supporting declaration must consist of a qualifying organisation declaration for the relevant qualifying organisation which—

(a)

has previously been provided to a UK deposit-taker (other than the UK deposit-taker to which the qualifying group member declaration is being given); or

(b)

will accompany the qualifying group member declaration when that qualifying group member declaration is provided to the UK deposit-taker concerned.

(4)

A UK deposit-taker may accept a qualifying group member declaration without a supporting declaration if, at the date on which it receives that qualifying group member declaration, it has previously received a qualifying organisation declaration for the relevant qualifying organisation.

Annotations

Footnotes

f1: “Group” is defined in section 421 of the 2000 Act.