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(Am ’93) SPECIAL EMERGENCY POWERS OF BANK

5A . (1) In this Part, the expression –

“agent” in relation to a financial institution, includes its bankers and auditors, but does not include its legal advisers;

“affiliated institution”, in relation to a financial institution, means a company which is or has at any relevant time been - (a) a holding company or a subsidiary of the financial institution, (b) a subsidiary of a holding company of the financial institution, (c) a holding company of a subsidiary of the financial institution, or (d) a holding company of a holding company or a subsidiary of a subsidiary of the financial institution; (Am 2013) “claim” means any claim whatsoever without limitation, including claims which are secured or unsecured, present or future, actual, prospective or contingent, or arising out of contract, tort, bailment, restitution, breach of trust or any other cause of action, and whether or not made by a creditor, shareholder, depositor or any other person;

(Am 2013) “creditor” means a person having a claim against or in respect of a financial institution or its property or assets;

“holding company” and “subsidiary” have the meanings assigned to them in the Companies Act;

“directors” includes any category of persons performing the functions of directors or analogous functions;

“financial institution” means a financial institution within the meaning of the Banking Act;

“officer” in relation to a financial institution, includes any category of manager as well as any person in the employment of the financial institution;

(Am 2013) “secured creditor” means a creditor who- (a)

has a mortgage in respect of any property of a financial institution;

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