Section 415B(4)

A person has a qualifying relationship with a PRA-authorised person (“A”) for the purposes of this section if— ... the person is a member of A's immediate group, or in the case of a qualifying step within subsection (3)(a) or (b), the person performs a relevant senior management function under an arrangement entered into by A, or by a contractor of A, in relation to the carrying on by A of a regulated activity.

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Source: legislation.gov.uk · retrieved 2026-09-04