74. Immunity from criminal or civil liability

Terms defined in this Act

• approved clearing house

  approved clearing house

  Defined · s 2

  “approved clearing house” means a corporation that is approved by the Authority under section 51(1)(a) as an approved clearing house;

  Open s 2
• business

  business

  Defined · s 46AAA

  “business” includes affairs and property;

  Open s 46AAA
• default rules

  default rules

  Defined · s 48

  “default rules”, in relation to an approved clearing house or a recognised clearing house, means the business rules of the approved clearing house or recognised clearing house which provide for the taking of proceedings or other action if a participant has failed, or appears to be unable or to be likely to become unable, to meet the participant’s obligations for any unsettled or open market contract to which the participant is a party;

  Open s 48
• director

  director

  Defined · s 2

  “director” has the meaning given by section 4(1) of the Companies Act 1967;

  Open s 2
• member

  member

  Defined · s 2

  “member”, in relation to an approved exchange, a recognised market operator, an approved clearing house or a recognised clearing house, means a person who holds membership of any class or description in the approved exchange, recognised market operator, approved clearing house or recognised clearing house, whether or not the person holds any share in the share capital of the approved exchange, recognised market operator, approved clearing house or recognised clearing house, as the case may be;

  Open s 2