128Associated body corporate

#### 128 Associated body corporate For the purposes of this Part, a body corporate (the first body) is associated with another body corporate if the 2 bodies are related to each other and: (a) the first body carries on life insurance business or is a registered NOHC; or (b) either of those bodies is, or has directors who are, accustomed or under an obligation, whether formal or informal, to act in accordance with the directions, instructions or wishes of the other body or its directors.