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(as defined under Paragraph 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 undertaking of A;
(c) C is a parent undertaking of a subsidiary undertaking of A;
(d) C is a subsidiary undertaking 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 subsidiary undertakings, or any of the subsidiary undertakings of its parent, owns or controls 20% or more of the voting rights or capital of C.
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