(1) In these Regulations, except where the context otherwise requires -

"the Act" means the Banking Act 2009;

"administrator" has the meaning set out in regulation 4;

"Authorities" means the Bank of England, the Treasury, the FCA and the PRA;

"business day" has the meaning set out in section 251 of the Insolvency Act;

"client" means a person for whom the investment bank has undertaken to receive or hold client assets (whether or not on trust and whether or not that undertaking has been complied with);

"client money account" means an account which the investment bank maintains in accordance with client money rules, including an account with any person which the investment bank maintains for the purpose of - (a) any transaction with or by that person for a client's benefit; or (b) meeting a client's obligation to provide collateral for a transaction;