Section 2

a bank or a financial institution licensed under the Banking and Financial Institutions Act 1989 [Act 372];

any bank licensed to conduct offshore banking business under the Offshore Banking Act 1990 [Act 443];

or

any corporation licensed to conduct business of banking or lending by the laws of the country in which that Corporation is incorporated;

“body corporate” means a corporation or company declared by the Minister under section 12 to be subject to