(1) In this section -

'carelessly' means failure to take reasonable care;

'liability to duty' means a liability to the amount of the difference specified in subsection (7), (8) or (9) arising from any matter referred to in subsections (2) and (4);

'participant', 'securities settlement system' and 'transfer order' have the same meaning as they have, respectively, in section 78A;

'person' means -

(a) for the purposes of subsections (2)(b) and (4)(b), a participant,

(b) for the purposes of subsections (2)(c) and (4)(c), an accountable person or a relevant person, as the case may be, where a return is caused to be delivered, or is delivered, to the Commissioners, and

(c) for the purposes of subsection (2)(d), an accountable person or a relevant person, as the case may be, where a return, which is required to be delivered, is not delivered to the Commissioners;