81J. Application of market collateral not affected by certain other interest, etc.

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
• 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
• participant

  participant

  Defined · s 2

  “participant” means —(a)for the purposes of Part 2, a person who may participate in one or more of the services provided by an approved exchange or a recognised market operator, in its capacity as an approved exchange or a recognised market operator, as the case may be;(aa)for the purposes of Part 2A, a person who may participate in one or more of the services provided by a licensed trade repository or licensed foreign trade repository, in its capacity as a licensed trade repository or licensed foreign trade repository, as the case may be;(b)for the purposes of Part 3, a person who, under the business rules of an approved clearing house or a recognised clearing house, may participate in one or more of the services provided by the approved clearing house or recognised clearing house, in its capacity as an approved clearing house or a recognised clearing house, as the case may be; or(c)for the purposes of any other provision of this Act, a person who participates in a collective investment scheme by way of owning one or more units in a collective investment scheme;

  Open s 2
• 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