[(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
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