1. For the purposes of this Regulation, the following definitions apply:

(1) "central securities depository" or "CSD" means a legal person established in the United Kingdom that operates a securities settlement system referred to in point (3) of Section A of the Annex and provides at least one other core service listed in Section A of the Annex;

(2) "third-country CSD" means any legal entity established in a third country that provides a similar service to the core service referred to in point (3) of Section A of the Annex and performs at least one other core service listed in Section A of the Annex;

(3) "immobilisation" means the act of concentrating the location of physical securities in a CSD or third-country CSD in a way that enables subsequent transfers to be made by book entry;

(4) "dematerialised form" means the fact that financial instruments exist only as book entry records;