Banking Act · 2024 Revised Edition · Part · General
104. Execution of instruments under seal
Official textFrom Attorney General's Chambers, unchanged
Notwithstanding anything contained in the Articles of Association or regulations of any bank incorporated in Brunei Darussalam with respect to the execution of instruments under its seal, but without prejudice to anything in those Articles or regulations which is not inconsistent herewith, the seal of the bank shall not be affixed to any instrument except in the presence of a director of the bank and of one other person who is either a director or an officer of the bank duly authorised in that behalf, and the director and that other person shall sign every instrument to which the seal of the bank is so affixed in their presence.
bank
“bank” means a company which carries on banking business and holds a licence granted under section 4 or 23, and includes all branches and offices in Brunei Darussalam of any such company for the purposes of this Act;
Terms defined in s 2
bank
Defined · s 2“bank” means a company which carries on banking business and holds a licence granted under section 4 or 23, and includes all branches and offices in Brunei Darussalam of any such company for the purposes of this Act;
director
Defined · s 2“director” includes any person occupying the position of director of a company, whatever the title of his office, and includes a person in accordance with whose directions or instructions the directors of a company are accustomed to act and an alternate or substitute director;
officer
Defined · s 2“officer”, in relation to a company, includes — (a) a director, the secretary or an employee of the company; (b) a receiver or manager of any part of the undertaking of the company appointed under a power contained in any instrument; and (c) the liquidator of the company appointed in a voluntary winding up;