Interpretation of this Division
56.  In this Division, unless the context otherwise requires —
“business” includes affairs, property, right, obligation and liability;
“certificate” means a certificate of transfer issued by the Minister under section 58(1);
[Act 31 of 2017 wef 04/06/2018]
“debenture” has the same meaning as in section 4(1) of the Companies Act (Cap. 50);
“determination” means a determination made by the Authority under section 57(1);
[Act 31 of 2017 wef 04/06/2018]
“property” includes property, right and power of every description;
“specified business” means any part of the business of a transferor which is specified or identified in a certificate;
“transferee” means any person (being a person who is, or who has applied or will be applying to be, approved, authorised, designated, recognised, registered, licensed or otherwise regulated, under this Act or any of the written laws set out in the Schedule, to carry on the significant business of the transferor) to which the whole or any part of a transferor’s business is, is to be, or is proposed to be transferred under this Division;
“transferor” means a pertinent financial institution the whole or any part of the business of which is, is to be, or is proposed to be transferred under this Division.
[Act 31 of 2017 wef 04/06/2018]
[Act 9 of 2013 wef 18/04/2013]