Banking Act · 2024 Revised Edition · Part · General
106. Offences by directors, managers, agents etc.
Official textFrom Attorney General's Chambers, unchanged
A person being a director or manager of, or any person discharging similar functions in a bank who —
director
“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;
fails to take all reasonable steps to secure compliance by a bank with the provisions of this Act or any other written law applicable to banks in Brunei Darussalam; or
fails to take all reasonable steps to secure the accuracy and correctness of any statement submitted under this Act or of any other written law applicable to banks in Brunei Darussalam, is guilty of an offence and liable on conviction to a fine not exceeding $100,000, imprisonment for a term not exceeding 6 years or both.
In any proceedings against a person under subsection (1), it shall be a defence to prove that he had reasonable grounds for believing that another person was charged with the duty of securing compliance with the requirements of those laws or with the duty of ensuring that those statements were accurate and that that person was competent and in a position to discharge that duty.
A person shall not be sentenced to imprisonment for an offence under subsection (1) unless in the opinion of the court he has committed the offence wilfully.
Banking
Any director, manager, trustee, auditor, employee or agent of any bank who —
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;
wilfully makes or causes to be made, a false entry in any book of record or in any report, slip, document or statement of the business, affairs, transactions, condition, assets, accounts and any other record, however kept or maintained, of that bank;
wilfully omits to make an entry in any book of record or in any report, slip, document or statement of the business, affairs, transactions, conditions, assets or accounts and under any records, however kept or maintained, of that bank, or wilfully causes any such entry to be omitted; or
wilfully alters, abstracts, conceals or destroys an entry in any book of record or in any report, slip, document or statement of the business, affairs, transactions, conditions, assets or accounts and any other record, however kept or maintained, of that bank, or wilfully causes any such entry to be altered, abstracted, concealed, or destroyed, is guilty of an offence and liable on conviction to a fine not exceeding $100,000, imprisonment for a term not exceeding 6 years or both.
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;
document
Defined · s 2“document” includes a circular brochure, pamphlet, poster, handbill, prospectus and other document which is directed at or likely to be read by members of the public; and also includes any newspaper, magazine, journal or other periodical publication;