Offshore Banking Units definition

Offshore Banking Units means cash deposits denominated in the currency of Australia deposited with an Australian branch of a foreign bank authorized to operate as an offshore banking unit by the Government of Australia’s Australian Taxation Office which, in the case of Moody’s is (i) a branch carrying the same credit rating as the parent bank, (ii) is a deposit rated at least P–1 under circumstances in which the rating of the deposit is capped at the sovereign rating ceiling of the parent bank’s home country, as well as the bank deposit rating ceiling of Australia, or (iii) is a deposit held by a branch whose parent bank is rated at least Aa3/P–1 under circumstances in which the rating of the parent bank is capped at the sovereign rating ceiling of the parent bank’s home country, as well as the bank deposit rating ceiling of Australia and which, to date, are limited to cash deposits with an overseas banking unit of Banque Nationale de Paris.
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Offshore Banking Units means cash deposits denominated in the currency of Australia deposited with an Australian branch of a foreign bank authorized to operate as an offshore banking unit by the Government of Australia's Australian Taxation office which, in the case of Moody's is (i) a branch carrying the same credit rating as the parent bank, (ii) is a deposit rated at least P-1 under circumstances in which the rating of the deposit is capped at the
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Examples of Offshore Banking Units in a sentence

  • For banks incorporated in India, the exposure limits fixed by the Board should be the aggregate for all branches including their overseas branches and Off-shore Banking Units.

  • Also the Bank has 3 (Three) Off-shore Banking Units (OBU), 5 (Five) subsidiary Companies (3 Foreign subsidiaries & 2 Local subsidiaries).

  • Interest income derived by resident individual or corporation on deposits with other FCDUs and Offshore Banking Units (OBU) are subject to 7.5 per cent final tax.

  • The Bank also provides off-shore banking services through its 3 (Three) Off-shore Banking Units (OBU).

  • This refers to the balances of deposit accounts maintained with non-resident banks and Offshore Banking Units (OBUs), as working funds in the case of foreign regular book.

  • This refers to the balances of deposit accounts maintained with non-resident banks and Offshore Banking Units (OBUs).

  • Interest income derived by resident individual or corporation on deposits with other FCDUs and Offshore Banking Units (OBU) are subject to 15 per cent final tax.

  • Foreign Branches/Subsidiaries / Joint Ventures of the Bank and Offshore Banking Units have been classified as Non-integral Operations and Representative Offices have been classified as Integral Operations.

  • Offshore Banking Units have not been considered in preparing the following comments.

  • Another similar concession is in the finance sector with concessional tax rates applicable for income derived by Offshore Banking Units.

Related to Offshore Banking Units

  • Offshore means any country that is not one of the fifty United States or one of the United States Territories (American Samoa, Guam, Northern Marianas, Puerto Rico, and Virgin Islands). Permitted Uses and Disclosure by Business Associate.

  • Offshore Global Note means a Global Note representing Notes issued and sold pursuant to Regulation S.

  • Offshore waters means marine waters of the Pacific Ocean

  • Mobile Banking means the banking services accessible from the Device you have registered with us for Mobile Banking.

  • Mobile Banking Service means the EB Services which we enable you to access via the Mobile Banking App or a web browser designed for use on a Mobile Device; and

  • Permanent Offshore Global Note means an Offshore Global Note that does not bear the Temporary Offshore Global Note Legend.

  • Internet Banking means the service we offer by which you can access and transact on a nominated account by using a personal computer and accessing via our website. This includes transactions processed through the mobile banking facility as well as the smartphone app facility.

  • International banking institution means an international financial institution of which the United States is a member and whose securities are exempt from registration under the Securities Act of 1933.

  • Digital Banking (a) means our present and future online banking services which can be accessed through 365 Online, Business Online, Bank of Ireland Mobile Banking, and services available on www.bankofireland.com; and

  • Sales finance company means that term as defined in section 2 of the motor vehicle sales finance act, MCL 492.102.

  • Asset Management Company/UTI AMC/AMC/Investment Manager means the UTI Asset Management Company Limited incorporated under the Companies Act, 1956, (1 of 1956) replaced by The Companies Act, 2013 (No. 18 of 2013) and approved as such by Securities and Exchange Board of India (SEBI) under sub-regulation (2) of Regulation 21 to act as the Investment Manager to the schemes of UTI Mutual Fund;

  • Desjardins Investments means Desjardins Investments Inc. “DFSF” means Desjardins Financial Services Firm Inc. “DSFI” means Desjardins Financial Security Investments Inc. “DSI” means Desjardins Securities Inc.

  • Asset Management Company/UTI AMC/AMC/Investment Manager means the UTI Asset Management Company Limited incorporated under the Companies Act, 1956, (1 of 1956) [replaced by The Companies Act, 2013 (No.18 of 2013)] and approved as such by Securities and Exchange Board of India (SEBI) under sub-regulation (2) of Regulation 21 to act as the Investment Manager to the schemes of UTI Mutual Fund.

  • QP means a “qualified purchaser” within the meaning of Section 2(a)(51) of the Investment Company Act.

  • Urban transit hub means an urban transit hub, as defined in

  • Offshore Physical Notes has the meaning provided in Section 2.01.

  • Offshore facility ’ means any facility of any kind located in, on, or under any of the navigable waters of the United States, and any facility of any kind which is subject to the ju- risdiction of the United States and is located in, on, or under any other waters, other than a vessel or a public vessel;

  • Harbour Master means the ABP Harbour Master or Dock Master for the Port (as appropriate) or their authorised representative;

  • Raffle means a lottery in which the prize is won by (i) a random drawing of the name or

  • General Manager of Railway means the officer - in-charge of the General Superintendence and Control of the Railway and shall mean and include their successors, of the successor Railway;

  • Online Banking is the internet-based service providing access to your Bank account(s);

  • PTE means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from time to time.

  • Offshore Associate means an associate (as defined in section 128F of the Australian Tax Act) of ANZBGL that is either a non-resident of the Commonwealth of Australia which does not acquire the Notes in carrying on a business at or through a permanent establishment in Australia or, alternatively, a resident of Australia that acquires the Notes in carrying on business at or through a permanent establishment outside of Australia.

  • Zurich Banking Day means a day on which banks are open in the City of Zurich for the settlement of payments and of foreign exchange transactions.

  • Onshore means all facilities except those that are located in the territorial seas or on the outer continental shelf.

  • Europe means the European Union, the European Economic Area and/or their member states, Switzerland and the United Kingdom.