Section 97(1)

In this Chapter— “authorised agreement” means a group financial support agreement (within the meaning given in Chapter 1) authorised by the PRA or FCA, and includes any amendment authorised by the PRA or FCA; “director” includes— a director of a company; a member of a limited liability partnership; and a director of a building society established under the Building Societies Act 1986 ; “member” includes— a shareholder of a company; a member of a limited liability partnership; and a shareholding or borrowing member of a building society established under the Building Societies Act 1986 (“shareholding member” and “borrowing member” have the meaning given in paragraph 5(2) of Schedule 2 to that Act); “ordinary resolution”— in relation to a resolution passed at a meeting on a show of hands, means a resolution passed by a simple majority of the votes cast by those entitled to vote; in relation to a resolution passed on a poll taken at a meeting, means a resolution passed by members representing a simple majority of the total voting rights of the members who (being entitled to do so) vote on the resolution; in relation to a written resolution, means a resolution passed by members representing a simple majority of the total voting rights of those eligible to vote on a written resolution; and “UK group entity”, in relation to an authorised agreement, means— the relevant parent undertaking, if it is set up in the United Kingdom; a group subsidiary set up in the United Kingdom.

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