Associated undertakings
This
adran has no associated
Memorandwm Esboniadol
10. An “associated undertaking” means an undertaking in which an undertaking included in the consolidation has a participating interest and over whose operating and financial policy it exercises a significant influence, and which is not—
(a)a subsidiary undertaking of the parent institution, or
(b)a joint venture dealt with in accordance with paragraph 9.