In this Part -

"applicant" means a person who has submitted an application under regulation 12(1);

"clearing" has the meaning given in section 313(1) of the 2000 Act; and "clearing services", in relation to a central counterparty, is to be read accordingly;

"clearing member" means an undertaking which participates in a central counterparty and which is responsible for discharging the financial obligations arising from that participation;

"client" means an undertaking with a contractual relationship with a clearing member of a central counterparty which enables that undertaking to clear its transactions with that central counterparty;

"competent authority" means a regulatory authority which is responsible for the authorisation and supervision of central counterparties in its territory; and

"third country" means a country other than the United Kingdom.