Banking Act · s 32

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32.
Power to obtain information and require production of documents
(1) The Authority may by notice in writing served on a relevant person —
(a) require the relevant person to provide the Authority, at such time or at such intervals or in respect of such period as may be specified in the notice, with such information as the Authority may reasonably require for the performance of its functions under this Act;
(b) require the relevant person to provide the Authority with a report by an accountant or other person with relevant professional skill on, or on any aspect of, any matter about which the Authority has required or could require the relevant person to provide information under paragraph (a), and the Authority may require such information or report to be in such form as it is specified in the notice.
(2) In a case falling within of subsection (1)(b), the Authority may require that the accountant or other person appointed by the relevant person shall be a person nominated or approved by the Authority.
(3) The Authority may —
(a) by notice in writing served on a relevant person require him to produce, within such time and at such place as may be specified in the notice, such information or documents of such description as may be so specified;
(b) authorise an officer or agent of the Authority (in this section referred to as an authorised person) on production of his authority, to require the relevant person to provide the appointed person forthwith

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with such information, or to produce to the appointed person forthwith such documents as he may specify, being such information or documents as the Authority may reasonably require for the performance of the Authority’s functions under this Act.
(4) Where by virtue of subsection (3), the Authority has power to require the production of any information or documents from a relevant person, the Authority shall have the like power to require the production of documents from any person who appears to be in possession of them, but where a person from whom production of any documents is required under this section claims a lien on documents produced by him, the production shall be without prejudice to the lien.
(5) Any power under this section to require a person to produce any documents includes power —
(a) if the information or documents are produced, to take copies of them or extracts from them and to require the person in question or, where that person is an institution, any other person who is a present or a past director, controller or manager of, or is or was at any time employed by or acting as an employee of, that institution, to provide an explanation of them; and
(b) if the documents are not produced, to require the person who was required to produce them to state, to the best of his belief, where they are.
(6) The Authority may, by notice in writing served on any person who is or is to be a director, controller or manager of an institution which is a relevant person require him to provide the Authority, within such time as may be specified in the notice, with such information or documents as the
Authority may reasonably require for determining whether he is a fit and proper person to hold the position which he holds or is to hold.
(7) A statement made by a person in compliance (or purported compliance) with a requirement imposed by virtue of this section may be used in evidence against him.
(8) In this section, “relevant person” includes any of the following —
(a) an institution which is or has been a licensed bank;

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(b) any person who is or was either a subsidiary or a parent undertaking of a licensed bank or of an undertaking with which a licensed bank is or was closely linked;
(c) any person who has a liability to any other person in respect of a deposit received in the course of a banking business;
(d) any other person or body who is, or whom the Authority believes or suspects on reasonable grounds to be, carrying on a banking business in or from within Brunei Darussalam;
(e) any subsidiary or parent undertaking of an undertaking falling within paragraph (c) or (d);
(f) any person who is in possession or control of any document belonging to or relating to, or any information relating to, any banking business carried on by any person mentioned in paragraphs (a), (b), (c), (d) and (e);
(g) such other person as to the Authority may decide.

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s 32Power to obtain information and require production of documents

(1)

The Authority may by notice in writing served on a relevant person —

(a)

require the relevant person to provide the Authority, at such time or at such intervals or in respect of such period as may be specified in the notice, with such information as the Authority may reasonably require for the performance of its functions under this Act;

(b)

require the relevant person to provide the Authority with a report by an accountant or other person with relevant professional skill on, or on any aspect of, any matter about which the Authority has required or could require the relevant person to provide information under paragraph (a), and the Authority may require such information or report to be in such form as it is specified in the notice.

(2)

In a case falling within of subsection (1)(b), the Authority may require that the accountant or other person appointed by the relevant person shall be a person nominated or approved by the Authority.

(3)

The Authority may —

(a)

by notice in writing served on a relevant person require him to produce, within such time and at such place as may be specified in the notice, such information or documents of such description as may be so specified;

(b)

authorise an officer or agent of the Authority (in this section referred to as an authorised person) on production of his authority, to require the relevant person to provide the appointed person forthwith

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with such information, or to produce to the appointed person forthwith such documents as he may specify, being such information or documents as the Authority may reasonably require for the performance of the Authority’s functions under this Act.

(4)

Where by virtue of subsection (3), the Authority has power to require the production of any information or documents from a relevant person, the Authority shall have the like power to require the production of documents from any person who appears to be in possession of them, but where a person from whom production of any documents is required under this section claims a lien on documents produced by him, the production shall be without prejudice to the lien.

(5)

Any power under this section to require a person to produce any documents includes power —

(a)

if the information or documents are produced, to take copies of them or extracts from them and to require the person in question or, where that person is an institution, any other person who is a present or a past director, controller or manager of, or is or was at any time employed by or acting as an employee of, that institution, to provide an explanation of them; and

(b)

if the documents are not produced, to require the person who was required to produce them to state, to the best of his belief, where they are.

(6)

The Authority may, by notice in writing served on any person who is or is to be a director, controller or manager of an institution which is a relevant person require him to provide the Authority, within such time as may be specified in the notice, with such information or documents as the

Authority may reasonably require for determining whether he is a fit and proper person to hold the position which he holds or is to hold.

(7)

A statement made by a person in compliance (or purported compliance) with a requirement imposed by virtue of this section may be used in evidence against him.

(8)

In this section, “relevant person” includes any of the following —

(a)

an institution which is or has been a licensed bank;

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(b)

any person who is or was either a subsidiary or a parent undertaking of a licensed bank or of an undertaking with which a licensed bank is or was closely linked;

(c)

any person who has a liability to any other person in respect of a deposit received in the course of a banking business;

(d)

any other person or body who is, or whom the Authority believes or suspects on reasonable grounds to be, carrying on a banking business in or from within Brunei Darussalam;

(e)

any subsidiary or parent undertaking of an undertaking falling within paragraph (c) or (d);

(f)

any person who is in possession or control of any document belonging to or relating to, or any information relating to, any banking business carried on by any person mentioned in paragraphs (a), (b), (c), (d) and (e);

(g)

such other person as to the Authority may decide.