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Banking Act · s 101
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Banking Act · s 101
Tell us what is wrong in this text. We check every suggestion against the official version before we change anything.
Where a bank becomes unable to meet its obligations or becomes insolvent or suspends payment, the assets of that bank in Brunei Darussalam
Banking shall be available to meet all deposit liabilities of the bank in
Brunei Darussalam.
The deposit liabilities shall have priority over all unsecured liabilities of the bank other than the preferential payments specified in the
Insolvency Act (Chapter 247).