GENPRU 3 Annex 2 Prudential rules for third country groups (GENPRU 3.2.8R to GENPRU 3.2.9R)

For the purposes of paragraph 1.2:

• [deleted]
• the definitions of conglomerate capital resources and conglomerate capital resources requirement that apply for the purposes of that rule are the ones from whichever of Part 1or Part 2 of GENPRU 3 Annex 1 is specified in the requirement referred to in GENPRU 3.2.8 R; and
• the rules so applied (including those in GENPRU 3 Annex 1) are adjusted in accordance with paragraph 3.1.

A firm must comply with the following with respect to the financial conglomerate referred to in paragraph 1.1:

• SYSC 12 (as it applies to financial conglomerates and as adjusted under paragraph 3.1); and
• GENPRU 3.1.25 R.

The rules referred to in paragraph 2.2 are:

• the applicable sectoral consolidation rules in paragraph 6.10 of GENPRU 3 Annex 1.

The adjustments that must be carried out under this paragraph are that the scope of the rules referred in Part 1 or Part 2 of this annex, as the case may be, are amended:

• so as to remove any provisions disapplying those rules for third-country groups;
• so as to remove all limitations relating to where a member of the third-country group is incorporated or has its head office; and
• so that the scope covers every member of the third-country group that would have been included in the scope of those rules if those members had their head offices in, and were incorporated in, the UK.