Financial Corporations (Transfer of Assets and Liabilities) Act 1993
3Interpretation
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3 Interpretation
In this Part, unless the contrary intention appears:
ADI (authorised deposit‑taking institution) means a body corporate that is an ADI for the purposes of the Banking Act 1959.
ADI authority means an authority under subsection 9(3) of the Banking Act 1959.
asset means property, or a right, of any kind, and includes:
(a) any legal or equitable estate or interest (whether present or future, vested or contingent, tangible or intangible, in real or personal property) of any kind; and
(b) any chose in action; and
(c) any right, interest or claim of any kind including rights, interests or claims in or in relation to property (whether arising under an instrument or otherwise, and whether liquidated or unliquidated, certain or contingent, accrued or accruing); and
(e) a CGT asset within the meaning of the Income Tax Assessment Act 1997.
eligible foreign ADI means an ADI:
(a) that is a foreign ADI for the purposes of the Banking Act 1959; and
(b) that:
(i) was granted its ADI authority before this Act commenced; or
(ii) is or was granted its ADI authority after this Act commenced pursuant to an application made before this Act commenced, or made after this Act commenced but before 1 July 2003.
eligible local ADI means a local ADI that was granted its ADI authority on or before 18 June 1993.
eligible money market corporation has the meaning given by section 4.
eligible subsidiary, in relation to an eligible local ADI or eligible money market corporation, means a body that:
(a) is incorporated under a law of the Commonwealth, of a State or a Territory relating to companies; and
(b) is a financial corporation that is a registered entity under the Financial Sector (Collection of Data) Act 2001; and
(c) is a subsidiary of the eligible local ADI or money market corporation.
financial corporation means a financial corporation within the meaning of paragraph 51(xx) of the Constitution.
foreign corporation means a foreign corporation within the meaning of paragraph 51(xx) of the Constitution.
interest, in relation to land, includes:
(a) a legal or equitable estate or interest in the land; or
(b) a right, power or privilege over, or in relation to, the land.