[192B Meaning of “qualifying parent undertaking”]
[192B Meaning of “qualifying parent undertaking”]

[(1)     The parent undertaking of a qualifying authorised person or recognised UK investment exchange is for the purposes of this Part a “qualifying parent undertaking” if the following conditions are satisfied in relation to it.

(2)     Condition A is that the parent undertaking is a body corporate which—

(a)     is incorporated in the United Kingdom, or

(b)     has a place of business in the United Kingdom.

(3)     Condition B is that the parent undertaking is not itself an authorised person, a recognised investment exchange[, a recognised clearing house or a recognised CSD].

(4)     Condition C is that the parent undertaking is a financial institution of a kind prescribed by the Treasury by order.