Acts Online
GT Shield

"external participant"

means a foreign person who is authorised by a supervisory authority to perform a service or services similar to one or more of the services of  a participant or an external central securities depository as set out 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;