# The Financial Services and Markets Act 2023 (Digital Securities Sandbox) Regulations 2023, Regulation 2: Interpretation

Extent: E+W+S+N.I.

In these Regulations—
“the Act” means the Financial Services and Markets Act 2023;
“ancillary FMI activities” means the activities that are referred to in regulation 3(6);
“appropriate regulator” is to be interpreted in accordance with regulation 3(8);
“digital securities depository” or “DSD” means, a sandbox entrant permitted to engage in one or more DSS activities referred to in regulation 3(5)(b) as a result of the FMI sandbox arrangements;
“digital securities sandbox” or “DSS” has the meaning given in regulation 3(1);
“DSS activities” in relation to a sandbox entrant means the activities approved in the SAN issued to the sandbox entrant;
“established in the UK” means constituted under the law of any part of the United Kingdom and having, for the duration of the FMI sandbox arrangements, a registered office or a head office in the United Kingdom;
“FMI sandbox instrument” has the meaning given in regulation 3(7);
“platform” means a form of market infrastructure, including a type of venue or facility, where FMI activities are performed in the DSS to which a SAN relates;
“sandbox approval notice” or “SAN” means a notice issued under regulation 5(5);
“sandbox entrant” means a person that makes an application to participate in the FMI sandbox arrangements and has its application approved under regulation 5(2)(a) or (b); and
“users” means the persons referred to in regulation 3(4)(a).

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Source: https://www.legislation.gov.uk/uksi/2023/1398/regulation/2 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2023-digital-securities-sandbox-regulations-2023/regulation-2/enacted
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.