2. Amendment of section 2

The Securities Commission Act 1993 [Act 498], which is referred to as the “principal Act” in this Act, is amended—

(a)

in subsection 2(1)—

(i)

by inserting after the definition of “Deputy Chief

Executive” the following definitions:

‘ “derivatives” has the meaning assigned to it in the Capital Markets and Services Act 2007;’;

‘ “derivatives exchange” has the meaning assigned to it in the Capital Markets and

Services Act 2007;’; and

‘ “derivatives market” has the meaning assigned to it in the Capital Markets and Services Act 2007;’;

(ii)

by deleting the definition of “futures contract”;

(iii)

by deleting the definition of “futures exchange”;

(iv)

by deleting the definition of “futures market”;

and

(v)

in the definition of “unit trust scheme”, by substituting for the words “futures contracts” the word “derivatives”; and

(b)

by deleting subsection 2(2).

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