(1) This regulation applies where -
(a) the parent undertaking of one or more insurance undertakings or reinsurance undertakings in the group is a mixed-activity insurance holding company; and
(b) the PRA supervises one or more of the insurance undertakings or reinsurance undertakings in the group.
(2) The PRA must exercise general supervision over transactions between -
(a) the mixed-activity holding company and its related undertakings; and
(b) the insurance undertakings or reinsurance undertakings supervised by the PRA.
(3) The requirements in regulation 24 apply to the transactions specified in paragraph (2).