Section 55A

In this Division, unless the context otherwise requires —“business” includes affairs, property, right, obligation and liability;“Court” means the General Division of the High Court;“debenture” has the meaning given by section 4(1) of the Companies Act 1967;“property” includes property, right and power of every description;“transferee” means a bank in Singapore, or a company which has applied for or will be applying for a bank licence to carry on banking business in Singapore, to which the whole or part of a transferor’s business is, or is to be, or is proposed to be, transferred under this Division;“transferor” means a bank in Singapore, the whole or part of the business of which is, or is to be, or is proposed to be, transferred under this Division.