approved counterparty

any of the following:

1. (a) an approved credit institution; or
1. (b) a firm whose permission includes dealing in investments as principal with respect to derivatives which are not listed; or
1. (c) a MiFID investment firm whose authorisation (as referred to in article 5 of MiFID ) authorises it to carry on activities of the kind referred to in (b); or
1. (d) in respect of a transaction involving a new issue of securities which are to be listed, the issuer or a MiFID investment firm acting on behalf of the issuer.