3Interpretation

3 Interpretation

In this Act, unless the contrary intention appears:

assets means property of every kind and, without limiting the generality of the foregoing, includes:

(a) choses in action; and

(b) rights, interests and claims of every kind in or to property, whether arising under or by virtue of an instrument or otherwise, and whether liquidated or unliquidated, certain or contingent, accrued or accruing.

Bank of Papua New Guinea means the bank of that name established by the Central Banking Ordinance 1973 of Papua New Guinea.

bill of exchange includes a promissory note, cheque, bank draft, bank cheque or order.

liabilities means liabilities of every kind and, without limiting the generality of the foregoing, includes obligations of every kind, whether arising under or by virtue of an instrument or otherwise, and whether liquidated or unliquidated, certain or contingent, accrued or accruing.

Papua New Guinea commercial bank means such bank as is prescribed, being a commercial bank established by a law of Papua New Guinea.

Reserve Bank means the Reserve Bank of Australia.

Savings Bank means the Commonwealth Savings Bank of Australia.

Trading Bank means the Commonwealth Trading Bank of Australia.