PART I
PRELIMINARY
ARTICLE 1
TITLE
This Agreement shall be cited as the Eastern Caribbean Asset Management Corporation Agreement.
ARTICLE 2
INTERPRETATION
In this Agreement, unless the context suggests otherwise —
“approved financial institution” means any financial institution approved by the Council under Article 9;
“asset” includes —
(a) a credit facility;
(b) any security relating to a credit facility;
(c) every other right arising directly or indirectly in connection with a credit facility;
(d) every other asset including but not limited to property owned by an approved financial institution; and
(e) an interest in an asset referred to in any of paragraphs (a) to (d);
“Audit Committee” means the Audit Committee appointed under Article 81;
“Board” means the Board of Directors of the Corporation appointed and constituted under Article 64;
“Central Bank” means the Eastern Caribbean Central Bank established under Article 3 of the Eastern Caribbean Central Bank Agreement;
“charge” includes —
(a) a mortgage, charge, floating charge, lien, pledge, hypothecation or other security interest or encumbrance or collateral in or over any property;
(b) an assignment by way of security; and
(c) an undertaking or agreement by any person (including an attorney-at-law or solicitor) to give or create a security interest in property;
“Corporation” means the Eastern Caribbean Asset Management Corporation established under Article 3;
“Currency Union” refers collectively to the member countries and territories of Anguilla, Antigua and Barbuda, The Commonwealth of Dominica, Grenada, Montserrat, Saint Christopher and Nevis, Saint Lucia and Saint Vincent and the Grenadines which use the Eastern Caribbean currency as their official currency;
“director” means a director of the Corporation appointed under this Agreement;
“Executive Committee” means the Executive Committee appointed under Article 80;
“member territory” means a country or territory of a Participating Government;
“Monetary Council” means the Monetary Council established under Article 7 of the Eastern Caribbean Central Bank Agreement;
“Participating Government” means a government which is a party to this Agreement;
“property” means real or personal property that is owned by an approved financial institution or is the subject of the security for a credit facility;
“relevant authority” means a regulatory or governmental authority.