Paragraph 1 Interpretation
In this Schedule, “financial institution” means—
a person who carries on a business of taking deposits for which he is authorised under a law of the Territory relating to banking,
a building society authorised to operate as such under any law of the Territory in that behalf,
a credit union authorised to operate as such under any law of the Territory in that behalf,
a person who carries on an investment business for which he is authorised under any law of the Territory relating to the conduct of such businesses,
a Savings Bank or a Development Bank established by or under any law of the Territory, and
a person who carries on an insurance or reinsurance business under any law of the Territory relating to the conduct of such businesses.
The Governor may by order provide for a class of person—
to be a financial institution for the purposes of this Schedule, or
to cease to be a financial institution for the purposes of this Schedule.
An institution which ceases to be a financial institution for the purposes of this Schedule (whether by virtue of sub-paragraph (2)(b) or otherwise) shall continue to be treated as a financial institution for the purposes of any requirement under this Schedule to provide information which relates to a time when the institution was a financial institution.
In this Schedule “the court” means the Supreme Court and “judge” means a judge of that Court.