9. For the purposes of these Regulations a “commercial paper funded company” means—
(a)a company that was an asset-holding company but whose obligations under debtor relationships to a note-issuing company or intermediate borrowing company—
(i)have been transferred to, or
(ii)have been replaced by obligations under debtor relationships to,
one or more companies carrying on a business of banking, or
(b)a company that was an intermediate borrowing company but whose obligations under debtor relationships to a note-issuing company—
(i)have been transferred to, or
(ii)have been replaced by obligations under debtor relationships to,
one or more companies carrying on a business of banking.