Interpretation of this Part
49.  In this Part, unless the context otherwise requires —
“affected person”, in relation to a specified financial institution, means any person prescribed by regulations made under section 126 as an affected person for that specified financial institution;
“business” includes affairs and property;
“co-operative society” means a co-operative society registered under the Co‑operative Societies Act 1979;
“Court” means the General Division of the High Court;
“director”, in relation to a specified financial institution or a significant associated entity referred to in section 121, includes —
(a)any person, by whatever name described, occupying the position of director of the specified financial institution or significant associated entity, as the case may be;
(b)a person in accordance with whose directions or instructions the directors of the specified financial institution or significant associated entity (as the case may be) are accustomed to act; and
(c)an alternate director, or a substitute director, of the specified financial institution or significant associated entity, as the case may be;
“excluded financial institution” means any person who is approved, authorised, designated, recognised, registered, licensed or otherwise regulated by the Authority under this Act or any of the written laws set out in the Schedule, and is prescribed by regulations made under section 126 as an excluded financial institution;
“executive officer”, in relation to a specified financial institution or a significant associated entity referred to in section 121, means any person, by whatever name described, who —
(a)is in the direct employment of, or acting for or by arrangement with, the specified financial institution or significant associated entity, as the case may be; and
(b)is concerned with or takes part in the management of the specified financial institution or significant associated entity (as the case may be) on a day‑to‑day basis;
“office holder”, in relation to a specified financial institution, means any person acting as the liquidator, the provisional liquidator, the receiver or the receiver and manager of the specified financial institution, or acting in an equivalent capacity in relation to the specified financial institution;
“pertinent financial institution” means any person who is approved, authorised, designated, recognised, registered, licensed or otherwise regulated by the Authority under this Act or any of the written laws set out in the Schedule, and is prescribed by regulations made under section 126 as a pertinent financial institution;
“PPF Agency” means the company designated as the deposit insurance and policy owners’ protection fund agency under section 56 of the Deposit Insurance and Policy Owners’ Protection Schemes Act 2011;
“PPF Funds” means the Policy Owners’ Protection Life Fund and the Policy Owners’ Protection General Fund established under section 34 of the Deposit Insurance and Policy Owners’ Protection Schemes Act 2011;
“Registrar of Companies” means the Registrar of Companies appointed under the Companies Act 1967, and includes any Deputy or Assistant Registrar of Companies appointed under that Act;
“Registrar of Co‑operative Societies” means the Registrar of Co‑operative Societies appointed under the Co‑operative Societies Act 1979, and includes any Assistant Registrar of Co‑operative Societies appointed under that Act;
“relevant Act”, in relation to a specified financial institution, means the Act under which that specified financial institution is approved, authorised, designated, recognised, registered, licensed or otherwise regulated;
“relevant provisions”, in relation to any specified financial institution, or any person who is carrying on or has carried on the significant business of a specified financial institution, means such provisions of written law as may be prescribed by regulations made under section 126 as relevant provisions for that specified financial institution or person, as the case may be;
“significant business”, in relation to a specified financial institution, means the usual business of a financial institution belonging to the same class of financial institutions as that specified financial institution;
“specified financial institution” means a pertinent financial institution or an excluded financial institution;
“Take-over Code” means the Singapore Code on Take‑overs and Mergers which is referred to in section 139 of the Securities and Futures Act 2001 and is issued by the Authority under section 321(1) of that Act.
[9/2013; 31/2017; 40/2019]