Laws of tuvalu


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(Section 6)
1 Interpretation
In this Schedule —
‘"premises" means the head office, of the Bank and any branches and/or agencies from which the Bank carries on business and shall extend to any temporary premises used by the Bank for this purpose;
"‘employee" means respectively one or more of the Bank’s officers, clerks, servants and other employees whilst employed by the Bank;
"property" means cash (i.e. currency, coins and bank notes), bullion, precious metals of all kinds and in whatsoever form and articles made there from, gems, (including uncut gem stones), precious and semiprecious stones, certificates of stock, bonds, coupons and all other type of securities, bills of lading, warehouse receipts, cheques, bills of exchange, acceptances, drafts, certificates of deposit, letters of credit, promissory notes, money orders, orders upon public treasuries, stamps, insurance policies, title deeds, certificates of title and all other negotiable and non-negotiable instruments or contracts representing money or other property (real or personal) or interests therein and other valuable papers, including books of accounts and other records used by the Bank in the conduct of its business, in which the Bank has an interest, or which are held by the Bank for any purpose or in any capacity and whether so held gratuitously or otherwise and whether legally liable or not;
"cheque" means a bill of exchange, drawn on a bank, payable on demand;
"bill of exchange" means an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand or at a fixed or determinable future time a certain sum in money to or to the order of a specified person or bearer;
"acceptance" means a bill of exchange, upon which is signified by the drawee his assent to the order of the drawer;
"draft" means a draft payable on demand drawn by or on behalf of a bank upon itself whether payable at the head office or other office of the bank;
"certificate of deposit" means a written acknowledgement by a bank of a deposit with promise to pay to the depositor, to his order, or to some other person or to his order;
"letter of credit" means an engagement by a bank made at the request of a customer that the issuer will have drafts or other demands for payments upon compliance with the conditions specified in the credit;
"withdrawal receipt" means a written instrument acknowledging receipt of funds from a savings account maintained with the Bank by a depositor;

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