Small Business (continued) Business Group The following entities are considered part of a customer’s Business Group for the purpose of the above “Small Business” test: (a) the customer; (b) each entity the customer controls; (c) each entity which controls the customer; and (d) each other entity which is controlled by an entity referred to in (c). An entity includes a natural person, corporation, trust, partnership and joint venture. Control An entity controls another entity if it: (a) is a director or trustee of the entity; (b) is a partner or joint venturer in the entity, and there are no more than 4 partners or joint venturers in that entity; or (c) has a shareholding, voting interest, unit holding, partnership, joint venture, or other interest in the entity of 25% or greater. Control includes direct control, and indirect control through other controlled entities. Sole Director Guarantor A Guarantor of a Loan who is a director of a company that has only one director, and that company is to be the debtor for the Loan. Standard Fees and Charges Fees and charges normally charged by us in respect of a Banking Service. Terms and Conditions Terms and conditions specifically applied by us to a Banking Service but does not include any other terms and conditions that may apply by operation of law. Trustee Guarantor A Guarantor of a Loan where: (a) the Guarantor and the debtor are the same person; and (b) that person is acting as trustee of a trust in one of these roles and is acting in their personal capacity in the other role. Unauthorised Transaction A transaction that is not authorised by you. It does not include any transaction that is performed by you or by anyone who performs a transaction with your knowledge and consent. Vehicle Asset Financing Asset finance provided by us to an individual that is not a Business, in relation to a motor vehicle and/or any related insurance products. Vehicle Asset Financing Guarantor A Guarantor who has provided a guarantee for the vehicle Asset Finance of an individual that is not a Business. “we”, “us” and “our” The Bank that you deal with that has signed up to the Code. Will A legal document typically nominating a person(s) to administer the Deceased Estate and with directions for how the deceased would like their property and other assets distributed after their death. “you”, “your” and “customer” Unless defined otherwise, a person to whom the Code applies under paragraph 1 of the Code. Banking Code of Practice | 41
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