In these Rules, unless the context otherwise requires – “adverse report” means a report, about a person, which
the Commission is satisfied would have a detrimental effect on the public interest, if suchperson is allowed to serve on the board of directors of a recognised self-regulatory organisation or be employed to manage the affairs of a recognised self regulatory organisation; “association” means an entity, organisation or group of
a class of capital markets operators, or a combination of various capital market operators, registered under the Societies Act and which intends or applies for a certificate of recognition as a self-regulatory organisation in accordance with the Act, the Regulations and these Rules; “class” means similar in function or sphere of functions
relative to the services provided;