In this Act unless the context otherwise requires—
"bank" means any person who carries on banking business;
"banking business" means the business of receiving money on current or deposit account, paying and collecting cheques drawn by or paid in by customers, and making advances to customers and include such other business as the Central Bank, with the approval of the Minister may prescribe for the purpose of this Act.
"branch" in relation to a bank, includes a mobile branch of the bank and a branch established and maintained for a limited period onIy;
"Central Bank" means the Central Bank of Malaysia established by the Central Bank of Malaysia Ordinance, 1958 [61/58];
"corporation" has the meaning assigned to it by the Companies Act, 1965 [79/65];
"depositor" means a person who has an account at a bank, whether the account is a current account, a fixed deposit account, a savings account or any other deposit account;
"licence" means a licence granted under section 3;
"licensed bank" means a bank holding a valid licence and all the offices and branches in the Federation of such a bank shall be deemed to be one bank;
"other deposit liabilities" in relation to a bank means the deposit liabilities at that bank other than savings account, sight and time liabilities and deposit liabilities from any other licensed bank or the Central Bank;
"savings account liabilities" in relation to a bank means the total deposits at that bank which normally require the presentation of passbooks for the deposit or withdrawal of monies;
"share" means share in the share capital of a corporation and includes stock except where a distinction between stock and share is expressed or implied;
"sight liabilities" in relation to a bank means the total deposits at that bank which are repayable on demand, but does not include savings account liabilities or the deposits of any other licensed bank or of the Central Bank at that bank;
"subsidiary" has the meaning assigned to it under section 5 of the Companies Act, 1965 [79/65];
"time liabilities" in relation to a bank means the total deposits at that bank which are repayable otherwise than on demand, but does not include savings account liabilities or the deposits of any other licensed bank or of the Central Bank at that bank.
