In force2024 Revised EditionCurrent version · 2024 Revised EditionSee versions on Attorney General's Chambers(opens the publisher’s site)
Banking Act · 2024 Revised Edition · Part · General
Banking Act · 2024 Revised Edition · Part · General
Official textFrom Attorney General's Chambers, unchanged
The Authority may establish or cause to be established an indemnity and fidelity fund for the benefit of depositors or other persons to whom the bank may be liable upon such conditions as it may think fit. The
Authority
“Authority” means the Brunei Darussalam Central Bank established by the Brunei Darussalam Central Bank Order, 2010;
Authority may consult banks for the purpose of establishing such conditions.
The Authority may require any bank to effect insurance for the protection of depositors or other persons to whom the bank may be liable in the conduct of its licensed business upon such conditions as it may think fit.
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;
The Authority may set different conditions in respect of any bank.
Authority
“Authority” means the Brunei Darussalam Central Bank established by the Brunei Darussalam Central Bank Order, 2010;
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;