s 421 Group.
(1) In this Act “ group ”, in relation to a person (“ A ”), means A and any person who is— (a) a parent undertaking of A; (b) a subsidiary undertaking of A; (c) a subsidiary undertaking of a parent undertaking of A; (d) a parent undertaking of a subsidiary undertaking of A; (e) an undertaking in which A or an undertaking mentioned in paragraph (a), (b), (c) or (d) has a participating interest; (f) if A or an undertaking mentioned in paragraph (a) or (d) is a building society, an associated undertaking of the society; or (g) if A or an undertaking mentioned in paragraph (a) or (d) is an incorporated friendly society, a body corporate of which the society has joint control (within the meaning of section 13(9)(c) or (cc) of the Friendly Societies Act 1992). (2) “ Participating interest ” has the meaning given in section 421A ; but also includes an interest held by an individual which would be a participating interest for the purposes of those provisions if he were taken to be an undertaking. (3) “ Associated undertaking ” has the meaning given in section 119(1) of the Building Societies Act 1986.