Definitions
31 Definitions
In this Division:
banking sale date, see section 3 of the Territory
Insurance Office (Sale) Act 2014.
full banking business means:
if the banking sale date was before the commencement of this Act
– the TIO insurance business; or
otherwise – the business carried on by the Commission under section 32).
MACC banking business means the business carried on by the Commission under section 32 or 33.
residual banking business means so much of the full banking business as was not included in the sale of the banking business (as defined in section 3 of the Territory Insurance
Office (Sale) Act 2014).
residual deposit means a deposit held by the Commission as part of the residual banking business.
TIO's banking business means the banking business (as defined in section 3 of the Territory Insurance Office (Sale) Act
2014) as carried on by TIO immediately before the banking sale date.
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