Section 2: Interpretation

2. Interpretation In this Act— “certificated securities” means securities in bearer, order or registered form, the title to which is evidenced by a certificate; S8 – 1 [Issue 1] Securities (Central Depository, Clearing and Settlement) Act “clearing” means the preparation of a securities transaction for settlement in the book-entry system of the CDS; “Commission” means the Financial Services Commission established under the Financial Services Act; “Companies Act” means the Companies Act; “company” has the same meaning as in the Companies Act; “Court” has the same meaning as in the Companies Act; “CDS” means the Central Depository & Settlement Co Ltd referred to in section 3; “deposited securities”, in relation to the CDS, means securities— (a) in relation to which the documents evidencing title to the securities are deposited by a depositor with the CDS and are registered in the name of the depository or its nominee; and (b) which are transferable by way of direct entry in the Depository Register and not by way of an instrument of transfer; “Depository Register” means the register maintained by the CDS in respect of deposited securities; “depositor” means a person who is named as such in the Depository Register; “derivative instrument”, in relation to debentures, stocks and shares, includes warrants, transferable subscription rights, options to subscribe for stocks or shares, convertibles and any other instrument that is a derivative or a security for the purposes of the Securities Act; “eligible security” means a security made eligible for the operation of the settlement service or the depository service in accordance with the rules of the CDS; “entity” includes a company, partnership, association, Government and agency thereof; “Guarantee Fund” means the Fund established under section 3 (8) (a); “instrument” means a deed or any other instrument in writing; “investment dealer” means a licensed investment dealer under the Securities Act; “issuer” means a person who issues any security; “listed issuer” means an issuer where the securities are listed securities; “listed securities” means securities which have been admitted for quotation on a securities exchange; [Issue 1] S8 – 2 Revised Laws of Mauritius “Minister” means the Minister to whom responsibility for the subject of finance is assigned; “Official List” means the Official List established under the Stock Exchange Act; “participant” means an entity which has contracted with the CDS to use the depository service or the settlement service and which is continued, reinstated or remains as a participant; “Registrar” means the Registrar of Companies; “rules of the CDS” means rules made by the CDS and in force under the Securities Act; “securities” has the same meaning as in the Securities Act; “securities account” means an account established, in accordance with its rules, by the CDS for a depositor or a participant, for the recording of a deposit or withdrawal of securities and for dealing in such securities by the depositor or the participant; “securities exchange” has the same meaning as in the Securities Act; “SEM” means the securities exchange operated by the Stock Exchange of Mauritius Ltd; “settlement” means the settlement of transactions in accordance with the settlement service; “settlement service” means the service offered by the CDS whereby, in accordance with its rules, it provides facilities for the reporting and comparison of data respecting the terms of settlement of trans securities by the depositor or the participant; “securities exchange” has the same meaning as in the Securities Act; “SEM” means the securities exchange operated by the Stock Exchange of Mauritius Ltd; “settlement” means the settlement of transactions in accordance with the settlement service; “settlement service” means the service offered by the CDS whereby, in accordance with its rules, it provides facilities for the reporting and comparison of data respecting the terms of settlement of transactions, the reduction of the number of settlements of transactions, the allocation of settlements responsible, and acts as an intermediary in facilitating payments and deliveries of, or in connection with, transactions; “Stock Exchange of Mauritius Ltd” has the same meaning as in the Stock Exchange Act; “transaction” means a transaction in eligible securities on a securities exchange or otherwise permitted by the rules of the CDS involving eligible securities, and which effects a deposit, sale, purchase, loan, pledge, gift, transfer, delivery or withdrawal of eligible securities, a registration thereof, a change in the information pertaining to a securities account and any other operation provided for in the rules of the CDS; “uncertificated securities” means listed securities not evidenced by a certificate, the issue or transfer of which is registered or recorded in registers maintained for that purpose by or on behalf of the issuer. [S. 2 amended by s. 46 (10) of Act 13 of 2001 w.e.f. 1 August 2001; s. 156 (4) (b) of Act 22 of 2005 w.e.f. 28 September 2007; s. 97 (1) of Act 14 of 2007 w.e.f. 28 September 2007.] S8 – 3 [Issue 1] Securities (Central Depository, Clearing and Settlement) Act