63. Assignment

Terms defined in s 2

• Corporation

  Corporation

  Defined · s 2

  “Corporation” means the Brunei Darussalam Deposit Protection Corporation established by section 3;

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• deposit

  deposit

  Defined · s 2

  “deposit” means a deposit as defined in section 2(3) of the Banking Order, 2006, a deposit as defined in section 2(3) of the Islamic Banking Order, 2008 and a deposit as defined in section 2 of the Finance Companies Act, as the case may be;

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• deposit protection

  deposit protection

  Defined · s 2

  “deposit protection” means the protection provided to the depositors of a member institution in case of its failure to pay its deposits;

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• depositor

  depositor

  Defined · s 2

  “depositor” means a person — (a) whose account has been or is to be credited in respect of monies constituting a deposit or part of such deposit; or (b) to whom a member institution is liable in respect of an instrument issued for monies constituting a deposit or part of such deposit;

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• member institution

  member institution

  Defined · s 2

  “member institution” means any financial institution deemed to be a member institution under section 27 whose membership has not been cancelled under section 31 or terminated under section 32;

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