2Interpretation

2 Interpretation

(1) In these Regulations, unless the contrary intention appears:

Aboriginal person means a person who is a member of the Aboriginal race of Australia.

beneficiary customer, in relation to an instruction, means the person or organisation (including a financial organisation) designated by the ordering customer or ordering organisation as the ultimate recipient of the funds.

beneficiary organisation, in relation to an instruction, means the financial organisation designated by the ordering organisation as the ultimate recipient of the funds.

census population, in relation to an urban centre, means the population of that urban centre specified in the results of the Census of Population and Housing taken by the Australian Statistician on 30 June 1981, being the results published by the Australian Bureau of Statistics in the documents entitled ‘Persons and Dwellings in Local Government Areas and Urban Centres’.

child means a person who has not attained the age of 18.

corporate treasurer means an ADI that provides financial management services to related bodies corporate.

customer transfer instruction means an instruction to transfer funds from an ordering customer to a beneficiary customer, in relation to which at least 1 of those customers is not a financial organisation.

disbursing organisation means:

(a) in relation to a customer transfer instruction—the financial organisation at which a beneficiary customer is to be paid; and
(b) in relation to a financial organisation transfer instruction—the financial organisation, other than the recipient, that is instructed to pay or credit the beneficiary organisation.

financial body means:

(a) a financial institution; or
(b) a corporation that is a registered corporation within the meaning of the Financial Corporations Act 1974.

financial organisation means an organisation that transmits, receives, handles or executes instructions.

financial organisation transfer instruction means an instruction relating to the transfer of funds between an ordering organisation acting on its own behalf and a beneficiary organisation.

higher education institution means an institution listed in section 4 or paragraphs 34(4)(b) to (j) (inclusive) of the Higher Education Funding Act 1988.