(1) In this Schedule—
(a) “securities” means transferable securities within the meaning of Article [4.1.44] of the markets in financial instruments directive, other than money-market instruments as defined in Article [4.1.17] of that directive that have a maturity of less than 12 months (and includes instruments outside the EEA);
[(a) “securities” means transferable securities as defined in Article 2(1)(24) of the markets in financial instruments regulation, other than money market instruments as defined in Article 2(1)(25A) of that regulation that have a maturity of less than 12 months (and includes instruments outside the United Kingdom);]
(b) “securities market” mea
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