Interpretation of this Division
71.—(1)  In this Division, unless the context otherwise requires —
“appointed date”, in relation to a bail-in certificate, means the date appointed for it to take effect, as specified in the notification under section 75(2);
“bail-in certificate” means a bail-in certificate issued under section 75(1);
“determination” means a determination made by the Authority under section 73(1);
“Division 4A FI” or “Division 4A financial institution”, means a pertinent financial institution that belongs to a class of pertinent financial institutions prescribed by regulations made under section 126 as Division 4A financial institutions;
“eligible instrument” means an instrument or a liability within a class of instruments or liabilities that are prescribed by regulations made under section 126 as eligible instruments;
“pre-resolution creditor” means any person who was a creditor of a Division 4A FI immediately before the date of publication in the Gazette of the bail-in certificate;
“pre-resolution shareholder” means any person who, immediately before the date of publication in the Gazette of the bail-in certificate, held shares or other instrument conferring or representing a legal or beneficial ownership interest in a Division 4A FI;
“resulting FI” or “resulting financial institution”, in relation to a Division 4A FI, means an entity established or incorporated to do one or both of the following:
(a)temporarily hold and manage the assets and liabilities of the Division 4A FI;
(b)do any act for the orderly resolution of the Division 4A FI,
and which issued or must issue a share or other similar instrument representing a legal or beneficial ownership interest, pursuant to a provision of a bail-in certificate issued for that Division 4A FI;
“significant shareholder”, in relation to a Division 4A FI or resulting FI, means any person falling within a description of shareholders of the Division 4A FI or resulting FI prescribed by regulations made under section 126 as its significant shareholders;
“significant shareholder provision” means a provision of any written law that is prescribed by regulations made under section 126 as a significant shareholder provision.
(2)  For the purposes of this Division, a reference to cancelling an eligible instrument includes cancelling it in whole or in part.
(3)  For the purposes of this Division, a reference to modifying, converting, or changing the form of an eligible instrument is a reference to —
(a)converting the whole or a part of the eligible instrument from one form or class to another;
(b)replacing the whole or a part of the eligible instrument with another instrument or liability of a different form or class;
(c)creating a new instrument (of any form or class) or liability in connection with the modification of the eligible instrument; or
(d)converting the whole or a part of the eligible instrument into shares or other similar instrument issued by a resulting FI.
[Act 31 of 2017 wef 29/10/2018]