(1) The 1989 Act [1989 c. 40.] is amended as follows.

(2) In section 155 (market contracts) [Sections 155(2) and (2A) were substituted by S.I. 1991/800; section 155(3) was substituted by S.I. 2009/853.] -

(a) for subsection (1) substitute -

"(1) In this Part -

(a) "clearing member client contract" means a contract between a recognised central counterparty and one or more of the parties mentioned in subsection (1A) which is recorded in the accounts of the recognised central counterparty as a position held for the account of a client, an indirect client or a group of clients or indirect clients;

(b) "clearing member house contract" means a contract between a recognised central counterparty and a clearing member recorded in the accounts of the recognised central counterparty as a position held for the account of a clearing member;

(c) "client trade" means a contract between two or more of the parties mentioned in subsection (1A) which corresponds to a clearing member client contract;

(d) "market contracts" means the contracts to which this Part applies by virtue of subsections (2) to (3)."

(b) after subsection (1) insert -

"(1A) The parties referred to in subsections (1)(a) and (c) are -