129J. Trading of specified derivatives contracts

Terms defined in s 2

• approved exchange

  approved exchange

  Defined · s 2

  “approved exchange” means a corporation that is approved by the Authority under section 9(1)(a) as an approved exchange;

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• derivatives contract

  derivatives contract

  Defined · s 2

  “derivatives contract” means —(a)any contract or arrangement under which —(i)a party to the contract or arrangement is required to, or may be required to, discharge all or any of its obligations under the contract or arrangement at some future time; and(ii)the value of the contract or arrangement is determined (whether directly or indirectly, or whether wholly or in part) by reference to, is derived from, or varies by reference to, either of the following:(A)the value or amount of one or more underlying things;(B)fluctuations in the values or amounts of one or more underlying things; or(b)any contract or arrangement that is, or that belongs to a class of contracts or arrangements that is, prescribed to be a derivatives contract,but does not include —(c)securities;(d)any unit in a collective investment scheme;(e)a spot contract;(f)a deposit as defined in section 4B of the Banking Act 1970, where the deposit is accepted by a bank or merchant bank licensed under that Act;(g)a deposit as defined in section 2 of the Finance Companies Act 1967, where the deposit is accepted by a finance company as defined in that section of that Act;(h)any contract of insurance in relation to any class of insurance business specified in section 3(1) of the Insurance Act 1966; or(i)any contract or arrangement that is, or that belongs to a class of contracts or arrangements that is, prescribed not to be a derivatives contract;

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• organised market

  organised market

  Defined · s 2

  “organised market” has the meaning given in the First Schedule;

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• recognised market operator

  recognised market operator

  Defined · s 2

  “recognised market operator” means a corporation that is recognised by the Authority under section 9(1)(b) or (2) as a recognised market operator;

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