CRD Welcome Package

"external auditor" means an auditor appointed under section 60 that is: (a) a person who is a member of a professional body of accountants which the Minister has specified by Order published in the Gazette ; or (b) any other person approved by the Central Bank;

"financial group" means a corporate group, the members of which conduct banking business or business of a financial nature;

"foreign financial institution" means a financial institution which is incorporated under the laws of a country outside of the Currency Union;

"holding company" means a body corporate that controls another body corporate;

"international financial institutions" refers to the International Monetary Fund, the International Bank for Reconstruction and Development, the Inter-American Development Bank, and the International Finance Corporation;

"large exposure" means an exposure to a person or a borrower group, which amounts to ten per cent or more of the capital base of a licensed financial institution;

"licensed financial holding company" means a holding company of a licensed financial institution licensed under this Act;

"licensed financial institution" means any person or incorporated entity licensed to conduct banking business under this Act;

"local licensed financial institution" means a licensed financial institution formed under the laws of a member country or territory of the Currency Union;

"Minister" means the Minister responsible for Finance;

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