81O. 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
• 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
• 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
• defaulter

  defaulter

  Defined · s 48

  “defaulter” means a participant who is the subject of any default proceedings;

  Open s 48
• 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
• 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
• relevant office holder

  relevant office holder

  Defined · s 48

  “relevant office holder” means —(a)the Official Assignee exercising his or her powers under the Insolvency, Restructuring and Dissolution Act 2018;(b)a person acting in relation to a corporation as the liquidator, the provisional liquidator, the receiver, the receiver and manager or the judicial manager of the corporation, or acting in an equivalent capacity in relation to a corporation; or(c)a person acting in relation to an individual as the trustee in bankruptcy, or the interim receiver of the property, of the individual, or acting in an equivalent capacity in relation to an individual;

  Open s 48