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49.—(1) In this Part—
“advance application” means an application submitted during the period—
beginning with the day on which this Part comes into force, and
ending immediately before [F1IP completion day];
“working day” means a day other than—
a Saturday or a Sunday,
Christmas Day or Good Friday, or
a day which is a bank holiday under the Banking and Financial Dealings Act 1971 M1 in any part of the United Kingdom.
(2) In this Part, reference to a group of undertakings means a group consisting of—
(a)a parent undertaking and its subsidiaries, within the meaning of Articles 1 and 2 of Directive 83/349/EEC of 13 June 1983 M2, and
(b)undertakings linked to each other by a relationship mentioned in Article 12.1(a) or (b) of that Directive, whose occupation includes the issuing of credit ratings.
Textual Amendments
F1Words in reg. 49 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 11(j)
Commencement Information
I1Reg. 49 in force at 14.2.2019, see reg. 1(2)
Marginal Citations
M11971 c. 80; amended by section 1 of the St Andrew's Day Bank Holiday (Scotland) Act 2007 (asp 2).
M2O.J. L 193, 18.7.1983, p.1.