PRU 8.5 PRU 8.5 Restrictions on ownership or control
By Rule 8.1.1(1), this Section applies to an Authorised Person in any Category.
Parents of Category 1 and 5 Authorised Persons
Restrictions on Category 3A, 3B, 3C and 4 Authorised Persons
PRU 8.5.2(1) An Authorised Person in Category 3A, 3B, 3C or 4 must not, subject to (2), be a Parent of an entity that:(b) carries on activities that would, if conducted in the ADGM, constitute Accepting Deposits or Managing a Profit Sharing Investment Account which is a PSIAu.(2) An Authorised Person in Category 3A, 3B, 3C or 4 may own or control an entity referred to in (1) where it is itself a Subsidiary of:(a) a Financial Institution with a Financial Services Permission to carry on any one or more of the activities specified in (1)(b); or