Article 3 Money transmission service debts and accounts
The forms of property which, by virtue of this Order, a society is to have power, subject to the provisions of this Order, to acquire, hold and dispose of as class 3 assets are money transmission service debts.
For the purposes of this Order–
“money transmission service debt” means the sum in which a person is indebted to a society on a money transmission service account (whether that sum represents principal, interest or other sums payable on the money transmission service account and whether it is immediately payable or not),
“money transmission service account holder” means that person, and
“money transmission service account” means an account which is provided by a society to a person to facilitate the provision of money transmission services by the society to that person and on which that person may, temporarily or occasionally, in the course of and as an incident of receiving money transmission services from the society, become indebted to the society.