• [D] [D]


    • Days

      Unless specifically referred to as business days, means calendar days.

      Added: July 2011

    • Dealing

      For the purpose of Module CSD and in relation to any deposited security, means the deposit, purchase or sale of securities, including the charging of pledging of the deposited security by a securities holder and the evidence of ownership.

      Added: July 2016

    • Dealing in securities

      Includes (whether as principal or agent) making or offering to make with any person, or inducing or attempting to induce any person to enter into or to offer to enter into any agreement for, or with a view to acquiring, disposing of, subscribing for, or underwriting securities.

    • Dealer

      Means a person acting as a principal in a securities transaction. Principals trade for their own account and risk. When buying from a broker acting as a dealer, the customer receives securities from the member's inventory; the confirmation must disclose this when dealers trade for their own account as part of their responsibility for maintaining an orderly market. Since most brokerage firms operate as both brokers and principals (dealers) the term "broker-dealer" is commonly used.

      Added: July 2011

    • Debt security(ies)

      Debenture, loan stock, bonds, sukuk, subordinated debt, notes and other securities or instruments acknowledging, evidencing or creating indebtedness, whether secured or unsecured, conventional or Islamic, and options, warrants or similar rights to subscribe or purchase any of the foregoing and convertible debt securities.

      Added: January 2014

    • Default proceedings

      Means proceedings or other action taken by a licensed clearing house or a central depository under its default rules.

      Added: July 2011

    • Default rules

      In relation to a licensed clearing house or central depository, means the business rules of the licensed clearing house or central depository which provide for the taking of proceedings or other action if a clearing member or participant has failed, or appears to be unable or to be likely to become unable, to meet his obligations for all unsettled or open derivatives market contracts to which he is a party.

      Added: July 2011

    • Defaulter

      Means a clearing member or participant who is the subject of any default proceedings.

      Added: July 2011

    • Delivery

      Means the final transfer of a security by the seller to the buyer.

      Added: July 2011

    • Dematerialisation

      Means a process by which evidence of ownership of securities is issued in electronic form or book entries, either at the time of original issue of securities or by subsequent conversion of evidence of ownership in the form of physical certificates into electronic form.

      Amended: January 2014
      Added: July 2011

    • Depository participant

      Means a member of a licensed central depository who intermediates between the licensed central depository and the beneficial owner of securities as an agent of the depository.

      Added: July 2011

    • Derivative

      Derivative includes any financial product whose value in whole or in part is determined directly or indirectly by reference to the price of an underlying security or securities, whether or not it includes the possibility of delivery of such underlying security or securities.

      Added: July 2011

    • Director

      Is any person who occupies the position of a Director, as defined in Article 173 of the Commercial Companies Law (Legislative Decree No. 21 of 2001).

      Added: July 2011

    • Director and senior management

      Includes any member of senior management, regardless of title, including:

      (a) The issuer's directors;
      (b) General Manager, Chief Executive Officers, Presidents, Heads of Finance, Heads of Business Departments;
      (c) Partners with unlimited liability, in the case of a limited partnership with share capital;
      (d) Nominees to serve in any of the aforementioned positions; and
      (e) Founders, if the issuer has been established for fewer than two years.
      Added: July 2011

    • Directive

      Directive includes any directive, waiver, consent, decision, confirmation or other determination in writing under the Modules by the CBB.

      Added: July 2011

    • Disciplinary action cell

      Means a division or employee of an SRO designated and authorised to receive notification of a breach of rules of an SRO and to coordinate and assist in the administration of disciplinary proceedings.

      Added: July 2011

    • Disclosure standards

      The Disclosure Standards issued under Circular ODG/407/03 and as updated from time-to-time.

      Added: July 2011

    • Discount broker

      Means a person who arranges orders to buy and sell securities and who supplies these orders to a licensed broker for execution.

      Amended: April 2013
      Added: July 2011

    • Disinterested Shares

      Shares in the offeree company other than those which are owned by the offeror or persons acting in concert with it.

      Added: October 2019

    • Document

      Unless the context otherwise requires, for the purpose of Module TMA, document includes any announcement, advertisement or document issued or published by any party to an offer or possible offer in connection with such offer or possible offer. For this purpose, parties to an offer or possible offer include all offerors, the offeree company, shareholders of an offeror or the offeree company and any persons acting in concert with any of them. Document also includes any announcement, advertisement or document issued or published by any person in connection with a transaction:

      (a) Where a directive is sought that no offer obligation arises;
      (b) Which is stated to be conditional on no such offer obligation arising; or
      (c) Which is stated to be conditional on a directive being given that no such offer obligation arises.
      Added: July 2011