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Part I DESCRIPTIONS OF BODIES CORPORATE DESIGNATED

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Column 1Column 2Column 3Column 4Column 5
ItemSpecified descriptionSpecified definitionSpecified relevant powerSpecified purposesSpecified limits and conditions
1.Appropriate payments services vehicleA body corporate (not being one excluded by the particular restrictions for payments services vehicles) formed for the purpose of, or the objects of which include the carrying on of banking services including money transmission services.Investment and support, or support.
(1)

Facilitating the provision of banking services by the society or any associated body of the society.

(2)

Enabling or facilitating the operation of facility accounts by the society or any associated body of the society.

(1)

The standard asset provision for the purposes of item (2) in column 4

(2)

The group interest provision.