Publicity Statement
27 July 2005

On 20 July 2005, we approved the Change of Control application of:

  • Tenet Group Limited (Tenet)

by:

  • Aegon UK Distribution Holdings Limited;
  • Norwich Union Life Investment Partnership;
  • Friends Provident Life & Pensions Limited; and
  • Standard Life Assurance Company
    (the product providers).

We gave the approval subject to an undertaking by Tenet and a condition agreed to by all the proposed controllers. The condition and undertaking relate to corporate governance and conflict management arrangements within Tenet and the subsidiary authorised firms. This is because the product providers are acting as controllers of a distributor.