Clause 2

In this Ordinance, unless the context otherwise requires —“bank” means any company which carries on banking business;“banking business” means the business of receiving money on current or deposit account, paying and collecting cheques drawn by or paid in by customers, and making advances to customers;“company” means any company incorporated formed and registered under the Companies Ordinance and any company formed in pursuance of any other written law in Singapore or by Royal Charter or Letters Patent of the United Kingdom; and includes any company incorporated outside Singapore which has compiled with the provisions of Part X of the Companies Ordinance;“Inspector” means the Inspector of Banks appointed under section 17 of this Ordinance;“license” means a license granted under section 3 or section 34 of this Ordinance;“licensed bank” means a bank holding a valid license and all the offices and branches in Singapore of such a bank shall be deemed to be one bank.