credit token business "credit token business" means any business where a token, being a cheque, card, voucher, stamps, booklet, coupon, form or other document or thing is given or issued to a person, referred to as "customer", by the person carrying on the business, referred to as "issuer", whereby such issuer undertakes:- (a) that on the production of the token, whether or not some other action is also required, the issuer will supply cash, goods or services on credit; or (b) that where, on the production of the token to a third party, whether or not any other action is also required, the third party supplies cash, goods or services, the issuer will pay the third party for them, whether or not deducting any discount or commission, in return for payment to be made thereafter to the issuer by the customer, and for the purposes of this definition, the use of a token to operate a machine provided by the issuer or by a third party shall be regarded as the production of the token to the person providing the machine; ACT 704 - LABUAN FINANCIAL SERVICES AND SECURITIES ACT 2010 86. Interpretation.
credit token business "credit token business" (Deleted) [Am. Act A1121 - Prior text read - "means any business where a token, being a card, cheque, voucher, coupon, stamp, form, booklet or other document or thing is given or issued to a person (in this DEFINITION referred to as "customer") by the person carrying on the business (in this DEFINITION referred to as "issuer") whereby such issuer undertakes- (a) that on the production of the token (whether or not some other action is also required), the issuer will supply cash, goods or services on credit; or (b) that where, on the production of the token to a third party (whether or not any other action is also required), the third party supplies cash, goods or services, the issuer will pay the third party for them (whether or not deducting any discount or commission), in return for payment to be made thereafter to the issuer by the customer, and for the purposes of this definition, the use of a token to operate a machine provided by the issuer or by a third party shall be regarded as the production of the token to the person providing the machine; ACT 372 - BANKING AND FINANCIAL INSTITUTIONS ACT 1989 2. Interpretation.
credit token business "credit token business" has the meaning assigned to it in the Banking and Financial Institutions Act 1989; [Ins. Act A989] ACT 443 - OFFSHORE BANKING ACT 1990 2. Interpretation.