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Act No Act No. XXII of 1948 Banking Companies (Control) Act. 1948. An Act to Provide for the control of banking companies by the State Bank of Pakistan, Whereas it is expedient to provide for the control of banking companies by the State Bank of Pakistan ; It is hereby enacted as follows : 5. Definitions.-In this Act, (a) banking company " means a banking company as defined in section 277F of the Indian Companies Act, VII of 1913, and includes the Imperial Bank of India and any body of persons incorporated by or under any law in force in any place outside the Provinces and carrying on the business of a banking company in any Province or any Acceding State ; (b) "Court" means the Court having, jurisdiction under the Indian Companies Act VII of 1913 ; (c) " prescribed " means prescribed by rules made under this Act ; (d) " the Provinces " means the Provinces of Pakistan and except in sub-section (2) of section I includes the Capital of the Federation ; (e) " State Bank " means the State Bank of Pakistan ; (f) " secured loan or advance " means a loan or advance made on the security of assets the market value of which is not at any time less than the amount of such loan or advance ; (g) " unsecured loan or advance " means a loan or advance not so secured ; (h) " approved securittt3s " means securities in which a trustee may invest money under clauses (a), (b), (bb), (c) or (d) of section 20 of the Indian Trusts Act, II of 1882 ; (i) scheduled bank " mean a bank included in the Second Schedule to the State Bank of Pakistan Order, 1948 : (j) " demand liabilities " means liabilities which a bank is required to meet on demand ; and (k) " time liabilities " mean liabilities which are not demand liabilities ; (l) " gold " includes gold in the form of coin,' whether legal tender or not, in the form of bullion or in ingot whether refined or not.