"ICT Programme Office" means the Central Banks Information and Communications Technology Programme Office contemplated in Article 5(3); "ICT Steering Committee" means the Central Banks Information and Communications Technology Steering Committee contemplated in Article 5(1); "ICT Working Group" means the Central Banks Information and Communications Technology Working Group contemplated in Article 5(5); "Financial System" means, in relation to each State Party, the financial institutions, financial legislation, financial markets, and financial policies and infrastructure of that State Party; "ICT application" means a set of software programs that are either purchased or developed, and that form an integral part of an ICT Solution, "ICT solution" means an ICT based system that contributes to a business solution and supports a business activity; "payment system" means a set of instruments, banking procedures and typically, inter-bank funds transfer systems that ensure the circulation of money (BIS Red Book); "third State" means any state that is not a State Party. ARTICLE 2 OBJECTIVE The objective of this Annex is to establish a framework for co-operation and coordination between Central Banks in order to obtain the benefits of the utilization of modern ICT solutions in supporting and enabling modern business functions and operations within the Region. ARTICLE 3 SCOPE 1. The scope of this Annex 7 is issues relating to the utilisation of ICT Solutions within: (a) Central Banks; (b) Financial Systems in the Region; (c) Central Bank and Financial System initiatives in the Region. 70