Central Bank Act, 1989.
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Chapter VIII Supervision of Financial Futures and Options Exchanges | ||
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Definitions ( Chapter VIII ). |
97.—In this Chapter— | |
“an exchange” means a financial futures and options exchange and, where the context so permits or requires, includes an existing exchange or a proposed exchange; | ||
“an existing exchange” has the meaning assigned to it by section 100 ; | ||
“financial futures and options exchange” means a market of a financial nature where, in an organised manner and under agreed rules, members of that market trade, by way of electronic, written, oral or any other form of communication— | ||
(a) in rights under contract for the sale or purchase of a financial product, commodity or property of any other description under which delivery is to be made, or measures equivalent to delivery are to be implemented, at a future date at a price agreed or determinable when the contract is made, or | ||
(b) by way of option on a contract to which paragraph (a) relates or on a financial product, commodity or property of any other description, including an option to buy, sell or vary the price or quantity concerned; | ||
“a proposed exchange” has the meaning assigned to it by section 99 ; | ||
“rules” in relation to an existing exchange or a proposed exchange, means, respectively, the rules governing or proposed to govern the membership and operation of the exchange. |