Islamic Financial Services Act 2013 · s 110

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s 110Interpretation

For the purposes of this Division—

118

“security” includes any means of securing payment or discharge of a debt or liability, whether present or future, or whether vested or contingent, a charge, whether legal or equitable, a bill of exchange, guarantee, lien or pledge, whether actual or constructive, hypothecation, indemnity and undertaking;

“transferee” means a person, including a licensed person, to which the whole or any part of the licensed business of a transferor is transferred under a business transfer scheme;

“transferor” means a licensed person which transfers the whole or any part of its licensed business under a business transfer scheme.