Banking Act · s 46

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46.
Minimum asset requirements
(1) The Authority may by notice in writing to each bank require such bank to hold at all time a minimum amount of specified assets in
Brunei Darussalam.
(2) The minimum amount of specified assets referred to in subsection (1) shall be expressed as a percentage which the assets shall bear to the demand, savings account, time and other liabilities of each bank, either jointly or separately.
(3) The following are specified assets for the purposes of this section —
(a) the assets specified in section 44(6)(a), (b) and (c);
(b) loans or advances made to persons in Brunei Darussalam;
(c) securities issued by the Government, or by any public authority established by any written law, and any other securities

Banking issued in Brunei Darussalam and approved for the purposes of this section by the Authority; and
(d) other assets in Brunei Darussalam which may be approved by the Authority for the purposes of this section.
(4) On being called upon to do so by the Authority, a bank which fails to comply with any of the requirements under subsection (1) is liable to pay a penalty of $3,000 per day or such larger amount as the Authority may determine for every day during which the failure continues.
(5) A bank which fails or refuses to pay the penalty under subsection (4) is guilty of an offence and liable on conviction to a fine not exceeding $150,000.

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s 46Minimum asset requirements

(1)

The Authority may by notice in writing to each bank require such bank to hold at all time a minimum amount of specified assets in

Brunei Darussalam.

(2)

The minimum amount of specified assets referred to in subsection (1) shall be expressed as a percentage which the assets shall bear to the demand, savings account, time and other liabilities of each bank, either jointly or separately.

(3)

The following are specified assets for the purposes of this section —

(a)

the assets specified in section 44(6)(a), (b) and (c);

(b)

loans or advances made to persons in Brunei Darussalam;

(c)

securities issued by the Government, or by any public authority established by any written law, and any other securities

Banking issued in Brunei Darussalam and approved for the purposes of this section by the Authority; and

(d)

other assets in Brunei Darussalam which may be approved by the Authority for the purposes of this section.

(4)

On being called upon to do so by the Authority, a bank which fails to comply with any of the requirements under subsection (1) is liable to pay a penalty of $3,000 per day or such larger amount as the Authority may determine for every day during which the failure continues.

(5)

A bank which fails or refuses to pay the penalty under subsection (4) is guilty of an offence and liable on conviction to a fine not exceeding $150,000.