4.5. Principal activity of an ancillary services undertaking

An undertaking should be regarded as performing activities referred to in points (a), (b) or (c) of Article 4(1)(18) of Regulation (EU) No 575/2013 as principal activity, where the total of these activities covers at least 50% of any of the following indicators:

• a. the undertaking’s assets based on its individual situation;
• b. the undertaking’s revenues based on its individual situation;
• c. the undertaking’s personnel based on its individual situation.

An activity should be regarded as an undertaking’s principal activity even if none of the thresholds set out in paragraph 28 is met, where this can be established on a case-by-case basis to the satisfaction of the competent authority.