Acts Online
GT Shield

"external clearing member"

means a foreign person who is authorised  by  a supervisory  authority  to perform  a  service  or  services  similar  to  one or more clearing services or settlement services as defined in this Act and who is subject to the laws of a country other than the Republic, which laws—

(a) establish a regulatory  framework equivalent to that established by this Act; and
(b) are supervised by a supervisory authority;