LAWDOG BANKRUPTCY DICTIONARY

Securities Clearing Agency

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Under 11 U.S.C. Section 101, the term:

(48) ''securities clearing agency'' means person that isregistered as a clearing agency under section 17A of the Securities Exchange Act of 1934 or whose business is confined to the performance of functions of a clearing agency with respect to exempted securities, as defined in section 3(a)(12) of such Act for the purposes of such section 17A;

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