Regulation 2

“approved clearing house”, “approved exchange”, “capital markets products”, “debenture”, “licensed foreign trade repository”, “licensed trade repository”, “recognised clearing house”, “recognised market operator” and “spot contract” have the meanings given by section 2(1) of the Securities and Futures Act (Cap. 289);

“asset‑backed securities” and “securitisation transaction” have the meanings given by section 262(3) of the Securities and Futures Act;

“business rules”, in relation to an approved exchange, a licensed trade repository, a licensed foreign trade repository, an approved clearing house, a recognised clearing house or a recognised market operator, has the meaning given by section 2(1) of the Securities and Futures Act;

“Central Depository System” and “depository rules” have the meanings given by section 81SF of the Securities and Futures Act;

“commodities lending or repurchase contract” means a contract under which a person (called in this definition the transferor) transfers the legal or beneficial interest in any commodities to another person (called in this definition the transferee) subject to a commitment that the transferee will return equivalent commodities at some future date or when requested to do so by the transferor;

“covered bond” and “securitisation special purpose vehicle” have the meanings given by paragraph 2 of the Insolvency, Restructuring and Dissolution (Prescribed Companies and Entities) Order 2020 (G.N. No. S 619/2020);

“derivatives contract”, “master netting agreement”, “securities contract” and “securities lending or repurchase agreement” have the meanings given by regulation 2 of the Insolvency, Restructuring and Dissolution (Prescribed Arrangements and Proceedings) Regulations 2020 (G.N. No. S 615/2020);

“designated system” has the meaning given by section 2(1) of the Payment and Settlement Systems (Finality and Netting) Act (Cap. 231);

“designated system operating rules”, in relation to a designated system, means rules, regulations, by‑laws or other similar body of written statements, by whatever name called, and whether or not contained in the constituent documents of the designated system, that govern the activities and conduct of —

“member”, in relation to an approved exchange, an approved clearing house, a recognised clearing house or a recognised market operator, has the meaning given by section 2(1) of the Securities and Futures Act;

“netting arrangement” and “set‑off arrangement” have the meanings given by section 61(1) of the Act;

“operator”, in relation to a designated system, means the person specified in the order mentioned in section 3(1) of the Payment and Settlement Systems (Finality and Netting) Act as the operator of the designated system;

“participant” —