In [this ‘Central Accounting’ section of Consolidated Requirements Part 2 > General Operational Matters], unless the context otherwise requires -
‘‘applicant’’ has the meaning given to it in [sub-paragraph 2.(c) in Consolidated Requirements Part 2 > General Operational Matters > Central Accounting > Insurance Services > Conditions and requirements];
‘‘approved bank’’ means any company which carries on the business of banking and is approved for the purposes of this byelaw by the Council;
‘‘approved run-off company’’ has the meaning given to it in the Run-Off Companies Byelaw (No. 2 of 1995);
‘‘arrangement’’ includes any agreement or arrangement whether or not intended to be enforceable by legal proceedings and whether or not evidenced in writing;
‘‘authorised person’’ means in any provision of this byelaw a person authorised by the Council to discharge the duties and functions conferred by the Council;
‘‘binding authority’’ has the meaning given to it in the Binding Authorities Byelaw (No. 9 of 1990);
‘‘claimant’’ has the meaning given to it in [paragraph 1. in Consolidated Requirements Part 2 > General Operational Matters > Central Accounting > Miscellaneous and General > Liability];
‘‘convertible currency’’ means a currency which is not a System currency;
‘‘default declaration’’ means a declaration made by the Council under [paragraph 1. in Consolidated Requirements Part 2 > General Operational Matters > Central Accounting > Central Accounting System > Default declarations]
‘‘defaulter’’ means a participant in respect of which the Council has made a default declaration;
‘‘direct credit arrangement’’ means any arrangement whereby a person is authorised to credit another person’s account;
‘‘direct debit arrangement’’ means any arrangement whereby a person other than the account holder is authorised to debit, or take money from, that account;
‘‘entitlements’’ has the meaning given to it in paragraph [1. in Consolidated Requirements Part 2 > General Operational Matters > Central Accounting > Central Accounting System > Settlement of System transactions];
‘‘general partner’’ means a company which is registered as a general partner of a Scottish limited partnership pursuant to the Limited Partnerships Act 1907;