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  • GR-6.2 GR-6.2 Definition of Close Links

    • GR-6.2.1

      An insurance licensee ('A') has close links with another undertaking ('C'), if:

      (a) C is a parent undertaking of A;
      (b) C is a subsidiary of A;
      (c) C is a parent undertaking of a subsidiary of A;
      (d) C is a subsidiary of a parent undertaking of A;
      (e) C owns or controls 20% or more of the voting rights or capital of A; or
      (f) A, any of its parent or subsidiaries, or any of the subsidiaries of its parent, owns or controls 20% or more of the voting rights or capital of C.
      Amended: July 2007
      Amended: October 2007