Banking Act · 2024 Revised Edition · Part · Reserve Funds, Dividends, Balance Sheets and Information
29. Statements to be furnished by banks
Official textFrom Attorney General's Chambers, unchanged
Every bank shall furnish to the Authority such information
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;
(including returns) at such time and in such manner as the Authority may reasonably require for the proper discharge of its functions.
Authority
“Authority” means the Brunei Darussalam Central Bank established by the Brunei Darussalam Central Bank Order, 2010;
Every bank shall furnish to the Authority —
not later than 15 days after the last day of each month a statement in the prescribed form showing the assets and liabilities of its banking offices and branches in Brunei Darussalam at the close of business on the last business day of the preceding month;
not later than one month after the last day of each quarter of a calendar year, a statement in a form approved by the Authority giving an analysis of loans and advances of its offices and branches in
Brunei Darussalam as at the 31st day of March, 30th day of June,
30th day of September and the 31st day of December, respectively;
not later than 3 months after the close of its financial year a statement in a form approved by the Authority showing the income and expenditure in respect of its banking business in
Brunei Darussalam;
any such statistical or other such information as may be requested by the Authority at any time.
Banking 38
The Authority may require any statement submitted to it pursuant to subsection (1) to be accompanied by a certificate —
of the auditor appointed by the bank pursuant to section 98;
or
of any other auditor appointed by the Authority pursuant to that section, as to whether, in the opinion of the auditor, the statement is correct.
Any information received from a bank under this section shall be under strict conditions of confidentiality as between the bank and the
Authority.
Nothing in this section shall prevent the Authority from preparing and publishing consolidated statements aggregating information furnished under this section.
Any bank which fails or neglects the provisions of this section is guilty of an offence and liable on conviction to a fine not exceeding $20,000
and, in the case of a continuing offence, to a further fine not exceeding $2,000 for every day during which the offence continues after conviction.
Advances to directors, associates etc.
Terms defined in s 2
Authority
Defined · s 2“Authority” means the Brunei Darussalam Central Bank established by the Brunei Darussalam Central Bank Order, 2010;
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;
banking business
Defined · s 2“banking business” means business which consists of or includes the receiving of deposits or other repayable funds from the public and the granting of credits for its own account and includes the following activities — (a) financial leasing; (b) money transmission services; (c) issuing and administering means of payment, such as credit cards, charge cards, travellers’ cheques and bankers’ drafts; (d) guarantees and commitments; (e) trading for own account or for account of customers in one or more of money market instruments, foreign exchange, financial futures and options, exchange and interest rate instruments and transferable securities; (f) participation in share issues and the provision of services relating to such issues; (g) advice to undertakings or capital structure, industrial strategy and related questions and advice and services relating to mergers and the purchase of undertakings; (h) money broking; (i) portfolio management and advice; (j) safekeeping and administration of securities; (k) credit reference services; (l) safe custody services; (m) bank assurance; and (n) such other business as may be approved in writing by the Authority with the approval of the Minister;
Part
Prohibited Business
Part
Minimum Assets Requirements
Part 7
Part
Overseas Branches and Representative Offices of Domestic Banks
Part
Unclaimed Balances
Part
Invitations to Make Deposits
Part