Section 22(4)

An authorised payment institution must not include in its own funds calculation any item— used in an equivalent calculation by an authorised payment institution, credit institution, investment firm, asset management company or insurance undertaking in the same group; or in the case of an authorised payment institution which carries out activities other than providing payment services, is used in carrying out those activities.

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