GENE 11.1.1 Definitions for Chapter 11

In this Part:

commercial captive finance, as an activity of an entity (the captive financier), means providing finance to a commercial customer to enable the customer to lease or purchase (through finance lease, operating lease, hire-purchase or a similar form) an asset (usually immoveable properties, machinery, vehicles and equipment) from the captive financier’s parent entity or from a member of the parent entity’s group.

commercial customer means a business customer or eligible counterparty within the meaning of each of those terms in the Customer and Investor Protection Rules 2019.

Amended by QFCRA RM/2020-06 (as from 15th October 2020)