Article 2 Interpretation

In this Order—

• “document” includes information recorded in any form, and in relation to information recorded otherwise than in legible form, references to its production include references to producing a copy of the information in legible form;

• “funds” means financial assets and economic benefits of any kind, including (but not limited to) gold coin, gold bullion, cash, cheques, claims on money, drafts, money orders and other payment instruments; deposits with financial institutions or other entities, balances on accounts, debts and debt obligations; securities and debt instruments (including stocks and shares, certificates representing securities, bonds, notes, warrants, debentures, debenture stock and derivatives contracts); interest, dividends or other income on or value accruing from or generated by assets; credit, rights of set-off, guarantees, performance bonds or other financial commitments; letters of credit, bills of lading, bills of sale; documents evidencing an interest in funds or financial resources, and any other instrument of export financing;

• “Governor” means the Governor or other officer administering the Government of the Territory;

• “relevant institution” means—

  1. (a)

     the person or body responsible for carrying out in the Territory the functions of a monetary authority;

  2. (b)

     any person who may lawfully accept deposits in or from within the Territory in the course of carrying on a deposit-taking business, and for this purpose “deposit” has the meaning given to that term in section 5 of the Banking Act 1987^f1 and “deposit-taking business” has the meaning given to that term in section 6 of that Act;

  3. (c)

     a European authorised institution within the meaning of the Banking Coordination (Second Council Directive) Regulations 1992^f2 which has lawfully established a branch in Gibraltar for the purpose of accepting deposits or other repayable funds from the public; and

  4. (d)

     any society established lawfully in the Territory whose principal purpose is the making of loans secured on residential property where such loans are funded substantially by its members.