Section 55

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;“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;“transferee” means a person that is carrying on, or that intends to carry on, in Singapore the usual business of an operator or a settlement institution of a designated payment system, to which the whole or any part of a transferor’s business is, is to be or is proposed to be transferred under section 56(1);“transferor” means an operator or a settlement institution of a designated payment system the whole or any part of the business of which is, is to be, or is proposed to be transferred under section 56(1).