81H. Adjustment of prior transactions

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
• Court

  Court

  Defined · s 46AAH

  “Court” means the General Division of the High Court;

  Open s 46AAH
• default proceedings

  default proceedings

  Defined · s 48

  “default proceedings” means any proceedings or other action taken by an approved clearing house or a recognised clearing house under its default rules;

  Open s 48
• market charge

  market charge

  Defined · s 48

  “market charge” means a security interest, whether fixed or floating, granted in favour of an approved clearing house, or a recognised clearing house, over market collateral;

  Open s 48
• market collateral

  market collateral

  Defined · s 48

  “market collateral” means any property held by or deposited with an approved clearing house or a recognised clearing house, for the purpose of securing any liability arising directly in connection with the ensuring of the performance of market contracts by the approved clearing house or recognised clearing house;

  Open s 48
• market contract

  market contract

  Defined · s 48

  “market contract” means —(a)a contract subject to the business rules of an approved clearing house or a recognised clearing house, that is entered into between the approved clearing house or recognised clearing house and a participant pursuant to a novation (however described), whether before or after default proceedings have commenced, which is in accordance with those business rules and for the purposes of the clearing or settlement of transactions using the clearing facility of the approved clearing house or recognised clearing house; or(b)a transaction which is being cleared or settled using the clearing facility of an approved clearing house or a recognised clearing house, and in accordance with the business rules of the approved clearing house or recognised clearing house, whether or not a novation referred to in paragraph (a) is to take place;

  Open s 48
• property

  property

  Defined · s 46AAH

  “property” includes property, right and power of every description;

  Open s 46AAH
• recognised clearing house

  recognised clearing house

  Defined · s 2

  “recognised clearing house” means a corporation that is recognised by the Authority under section 51(1)(b) or (2) as a recognised clearing house;

  Open s 2