Regulation 2 Interpretation

In these Regulations unless the context otherwise requires—

• “the Board” means the Commissioners of Inland Revenue;

• “Board of directors” means the Board of directors of Tradepoint;

• “clearing participant” means a member (as defined by this regulation) who is also a member of The London Clearing House Limited and who as such is permitted by the Board of directors and that clearing house to clear transactions made on the Exchange for a traded security;

• “the Exchange” means Tradepoint Investment Exchange;

• “Management Act” means the Taxes Management Act 1970^f1;

• “member” in relation to Tradepoint means a person approved by the Board of directors as a participant in the Exchange;

• “return period” shall be construed in accordance with regulation 12;

• “section 737” means section 737 of the Taxes Act^f2;

• “Schedule 23A” means Schedule 23A to the Taxes Act;

• “Taxes Act” means the Income and Corporation Taxes Act 1988^f3;

• “Tradepoint” means Tradepoint Financial Networks plc;

• “United Kingdom equities” means shares of any company resident in the United Kingdom.