In this Act, unless the context otherwise requires—

• " advertisement" means an advertisement in any medium inviting business or making known the activities of a trustee savings bank, and includes any circular or hand bill inviting business or making known the bank's activities;

• " the Central Board" means the Trustee Savings Banks Central Board;

• " the Commissioners " means the National Debt Commissioners ;

• " enactment" includes an enactment of the Parliament of Northern Ireland or of the Northern Ireland Assembly and an Order in Council having the same effect as such an enactment;

• " financial year", in relation to a trustee savings bank, means the period in respect of which an income and expenditure account of the trustee savings bank is made up, whether that period is a year or not;

• " the Registrar "—

  1. a

     in relation to a trustee savings bank in England, Wales, the Isle of Man or the Channel Islands, means the Central Office of the Registry of Friendly Societies;

  2. b

     in relation to a trustee savings bank in Scotland, means the Assistant Registrar of Friendly Societies for Scotland;

  3. c

     in relation to a trustee savings bank in Northern Ireland— (i) except in sections 5, 6, 26 and 49, means the Central Office of the Registry of Friendly Societies, and

     1. i

        in those sections means the Chief Registrar of Friendly Societies or a deputy appointed by him;

• " subsidiary " has the meaning assigned to it by section 154 of the [1948 c. 38.] Companies Act 1948 or section 148 of the [1960 c. 22 (N.I.).] Companies Act (Northern Ireland) 1960 ;

• "trustee" in relation to a trustee savings bank does not include a custodian trustee ;

• " trustee savings bank " means a bank certified under this Act, the [1969 c. 50.] Trustee Savings Banks Act 1969, the [1954 c. 63.] Trustee Savings Banks Act 1954 or the [1863 c. 87.] Trustee Savings Banks Act 1863.

Any reference in this Act to the powers of the Central Board under this Act shall, unless the context otherwise requires, include a reference to the powers of the Board under section 399(8) of the Companies Act 1948 and section 349(8) of the Companies Act (Northern Ireland) 1960 (which enable the Board to petition for the winding up of a trustee savings bank).

It is declared that any power of giving directions conferred by a provision of this Act includes power to vary or revoke at any time any directions previously given under that provision.