Article 5 Set-off and netting: meaning of "derivative", "financial contract" and "qualifying master agreement"
(1) In this Order "derivative" means a derivative as defined in Article 2(5) of Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4th July 2012 on OTC derivatives, central counterparties and trade repositories [OJ L 201, 27.7.2012, p.1.] as it forms part of retained EU law.