Part 1Transfer of balances in dormant accounts

Interpretation etc

6Interpretation of Part 1

In this Part—

“account” has the meaning given by section 9;

F1...

“balance” has the meaning given by section 8;

“bank” has the meaning given by section 7;

“building society” means a building society incorporated (or deemed to be incorporated) under the Building Societies Act 1986 (c. 53);

“charity” means a body, or the trustees of a trust, established for charitable purposes only;

“dormant F2(except in the term “dormant assets funds”) ” has the meaning given by section 10;

“financial year”—

(a)

in relation to a company (other than a building society) within the meaning of the Companies Act 2006, has the meaning given in section 390(1) to (3) of that Act;

(b)

in relation to an undertaking that is not a company within the meaning of that Act (and is not a building society), has the meaning given in section 390(4) of that Act;

(c)

in relation to a building society, has the meaning given in section 117 of the Building Societies Act 1986;

“group” means a parent undertaking and its subsidiary undertakings;

“parent undertaking” and “subsidiary undertaking” have the same meaning as in the Companies Act 2006 (see section 1162 of that Act);

“reclaim fund” has the meaning given by section 5(1).

F3“transfers”, in relation to the balance of a dormant account, includes bringing about the transfer of the balance.