198. Financial instruments

means –

a debt claim or debt obligation;

a derivative instrument;

a foreign currency instrument; and

any other instrument prescribed by regulations or, in the absence of regulations, treated as a financial instrument by generally accepted accounting principles; but

except to the extent as may be prescribed by regulations, excludes a membership interest in an entity.

“debt claim” means a right to receive a payment under a debt obligation;

“debt obligation” means an obligation to make a payment to another person that is denominated in money, including accounts payable and the obligations arising under deposits, debentures, stocks, treasury bills, promissory notes, bills of exchange and bonds.

derives a financial gain when the person derives interest or gains with respect to a financial instrument; and

incurs a financial cost when the person incurs interest or losses with respect to a financial instrument.

derives a relevant financial gain when the person derives a financial gain with respect to a derivative or foreign currency instrument; and

incurs a relevant financial cost when the person incurs a financial cost with respect to a derivative or foreign currency instrument.

the derivative instruments; and

the foreign currency instruments.