Financial Services (Banking Reform) Act 2013

113 Interpretation: other expressions

(1) In this Part—

• “company” means a company registered under the Companies Act 2006;

• “operator”, in relation to a recognised inter-bank payment system, is to be read in accordance with section 183 of the Banking Act 2009;

• “recognised inter-bank payment system” means an inter-bank payment system, as defined by section 182 of the Banking Act 2009, in respect of which a recognition order under section 184 of that Act is in force;

• “the relevant system” means—

  (a)

  in relation to an infrastructure company falling within subsection (2)(a) of section 112, the recognised inter-bank payment system,

  (b)

  in relation to an infrastructure company falling within subsection (2)(b) of that section, the securities settlement system,

  (c)

  in relation to a company designated under subsection (4) of that section, the recognised inter-bank payment system or securities settlement system falling within paragraph (b) of that subsection;

• “securities settlement system” means a computer-based system, and procedures, which enable title to units of a security to be evidenced and transferred without a written instrument, and which facilitate supplementary and incidental matters.

(2) Expressions used in the definition of “securities settlement system” in subsection (1) are to be read in accordance with section 783 of the Companies Act 2006.