Meaning of relevant activities

For the purpose of this Act, an included entity is engaged in a relevant activity if it carries out any of the following activities, namely– (a) banking business; 12 (b) insurance business; (c) fund management business; (d) financing and leasing business; (e) headquarters business; (f) distribution and service centre business; (g) shipping business; (h) as a holding company, engaged, or where one or more of its subsidiaries is engaged in one of the activities listed under paragraphs (a) to (g).