5Interpretation

5 Interpretation

In this Part, unless the contrary intention appears:

authorized officer means:

(a) the Governor or the Deputy Governor of the Reserve Bank or of the Bank of Papua New Guinea; or

(b) an officer of the Reserve Bank Service or of the Bank of Papua New Guinea Service.

commencing date [see Note 2] means the date upon which the Reserve Bank Act 1959‑1973, other than subsection 6A(2) of that Act, ceases to extend to Papua New Guinea.

instrument to which this Part applies means an instrument:

(a) to which the Reserve Bank is a party;

(b) which was given to or in favour of the Reserve Bank;

(c) in which a reference is made to the Reserve Bank; or

(d) under which any money is or may become payable, or any other property is to be, or may become liable to be, transferred, conveyed or assigned to or by the Reserve Bank;

being an instrument subsisting immediately before the commencing date and relating to the business that was carried on immediately before that date by the Reserve Bank at its branch at Port Moresby in Papua New Guinea.

Papua New Guinea assets and liabilities, in relation to the Reserve Bank, means assets and liabilities of the Reserve Bank subsisting immediately before the commencing date and relating to the business that was carried on immediately before that date by the Reserve Bank at its branch at Port Moresby in Papua New Guinea.