302. Meaning of "capital market investment"

Past version: effective from 14/06/2015 - 13/06/2015
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(1) For the purposes of Section 152 (Appointment and powers of receivers and administrative receivers) an investment is a "capital market investment" if —
(a) it falls within subsection (2) and is rated or traded or designed to be rated or traded; or
(b) it falls within subsection (3).
(2) Any instrument creating or acknowledging indebtedness, including debentures, debenture stock, loan stock, bonds, or certificates of deposit, but excluding —
(a) an instrument acknowledging or creating indebtedness for, or for money borrowed to defray, the consideration payable under a contract for the supply of goods or services;
(b) a cheque or other bill of exchange, a banker's draft or a letter of credit (but not a bill of exchange accepted by a banker);
(c) a banknote, a statement showing a balance on a current, deposit or savings account, a lease or other disposition of property, or a heritable security;
(d) a contract of insurance; and
(e) loan stock, bonds and other instruments creating or acknowledging indebtedness, issued by or on behalf of any of the following —
(i) a government or public authority (including a local authority), whether in the United Arab Emirates or elsewhere; or
(ii) a body the members of which comprise either states (including the United Arab Emirates) or bodies whose members comprise states (including the United Arab Emirates).
(3) A bond or commercial paper issued to a person in a territory outside the Abu Dhabi Global Market who under the law of that territory is not prohibited from investing in bonds or commercial paper.
(4) In subsection (1) —

"rated" means rated for the purposes of investment by an internationally recognised rating agency; and

"traded" means admitted to trading on a stock exchange (wherever located).