Banking Act 1970 · 2020 Revised Edition · Part 7 · Powers of Control Over Banks, Etc.
48A. Interpretation of sections 49 to 53
Feedback & supportIn sections 49 to 53, unless the context otherwise requires —“business” includes affairs and property;“office-holder”, in relation to a bank, means any person acting in relation to the bank as its liquidator, provisional liquidator, receiver, receiver and manager or an equivalent person;“relevant business” means any business of a bank —
property
“property” includes property, right and power of every description;
which the Authority has assumed control of under section 49; or
in relation to which a statutory adviser or a statutory manager has been appointed under section 49;“statutory adviser” means a statutory adviser appointed under section 49;“statutory manager” means a statutory manager appointed under section 49.
“business” includes affairs and property;
“office-holder”, in relation to a bank, means any person acting in relation to the bank as its liquidator, provisional liquidator, receiver, receiver and manager or an equivalent person;
bank
“bank” means any company which holds a valid bank licence under section 7 or 79;
“relevant business” means any business of a bank —
which the Authority has assumed control of under section 49; or
in relation to which a statutory adviser or a statutory manager has been appointed under section 49;
“statutory adviser” means a statutory adviser appointed under section 49;
“statutory manager” means a statutory manager appointed under section 49.