Section 2: Interpretation.

(1) In this Act, unless the context otherwise requires-
"authorised dealer" means, in relation to gold and any foreign currency, a person for the time being authorised under this Act by the Minister by notice in the Federal Gazette as a dealer in gold or, as the case may be, that foreign currency;
"authorised depositary" means a person for the time being authorised by the Minister by notice in the Federal Gazette to accept the custody of securities and documents of title to securities for the purposes of this Act;
"bearer certificate" means a certificate of title to securities which is transferable by delivery with or without endorsement;
"certificate of title", in relation to a security, means any document whereby a person recognises the title of another to a security issued or to be issued by the first mentioned person, and in the case of any such document with coupons (whether attached or on separate coupon sheets) includes any coupons which have not been detached;
"contract note" means a note sent by a broker or agent to his principal, or by any person who by way of business deals, or holds himself out as dealing, as a principal in any stock or marketable securities, advising the principal or the vendor or purchaser, as the case may be, of the sale or purchase of any stock or marketable security, but does not include a note sent by a broker or agent to his principal where the principal is himself acting as a broker or agent for a principal;
"coupon" means a coupon representing dividends or interest on a security;
"foreign currency" means any currency other than Nigerian currency and includes any notes which are or have at any time been legal tender in any territory outside Nigeria, and where reference is made to foreign currency, the reference includes the right to receive foreign currency in respect of any credit or balance at a bank;
Cap. 163.
"gold" means gold coin and gold bullion and includes raw gold as defined in the Gold Trading Act;
"Minister" means the Minister charged with responsibility for finance;
"policy of assurance" means any policy securing the payment of a capital sum or annuity on the occurrence of a specified event which is certain to happen and includes-
(a) any policy by which the payment of money is assured on death (except death by accident only) or the happening of any contingency dependent on human life; and
(b) any policy securing the payment of an immediate annuity; and the reference to the occurrence of a specified event which is certain to happen includes the occurrence, which is certain to happen, of one of specified events none of which by itself is certain to happen;
"securities" means shares, stock, bonds, notes, debentures, debenture stock, units under a unit trust scheme and shares in an oil royalty, and includes any letter of allotment which may be renounced, letter of rights, warrant conferring an option to acquire a security, deposit certificate in respect of securities and such other document conferring, or evidencing, rights as may be prescribed from time to time, but does not include any receipt by an authorised depositary for any certificate of title deposited for the purposes of this Act or any promissory note;
"specified currency" means any foreign currency referred to in or affected by an order of the Minister under section 4 of this Act;
"unit" means, in relation to a unit trust scheme, a right or interest (whether described as a unit, as a sub-unit or otherwise) which may be acquired under the scheme;
"unit trust scheme" means any arrangement made for the purpose or having the effect of providing for persons having funds available for investments, facilities for participation by them as beneficiaries under a trust, in profits and income arising from the acquisition, holding, management or disposal of any property whatsoever.
(2) The obligations and prohibitions imposed by this Act shall, unless otherwise prescribed, apply to all persons notwithstanding that they are not in Nigeria and are not Nigerian citizens.
(3) References in any order or notice under this Act to "Scheduled Territories" shall, unless the context otherwise requires, be read as references to such countries or territories as the Minister by order may, from time to time, prescribe for the purposes of this Act.
(4) References to control of a body corporate shall be construed as references to the power of any person or persons either separately or collectively and wherever resident to override or outvote any other person or persons however interested in the body corporate.