[3M Directions relating to consolidated supervision of groups]

[Directions relating to consolidated supervision]

[3M  Directions relating to consolidated supervision of groups]

[(1)     This section applies where one of the regulators (“the supervising regulator”), but not the other, is the competent authority for the purpose of consolidated supervision that is required in relation to some or all of the members of a group (“the relevant group”) in pursuance of[—

(a)     any implementing provision contained in subordinate legislation (within the meaning of the Interpretation Act 1978) made otherwise than by any of the following—

(i)     statutory instrument, and

(ii)     statutory rule for the purposes of the Statutory Rules (Northern Ireland) Order 1979 (SI 1979/1573 (NI 12)); or

(b)     any other implementing provision (as amended from time to time)].

(2)     “Consolidated supervision” includes supp

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