Banking Act · 2024 Revised Edition · Part · Reserve Funds, Dividends, Balance Sheets and Information
Section 30
Official textFrom Attorney General's Chambers, unchanged
Every bank shall send to the Authority, not later than 15 days after the last day of each month, a statement in a form approved by the
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;
Authority showing particulars of advances, loans or credit facilities by it to —
Authority
“Authority” means the Brunei Darussalam Central Bank established by the Brunei Darussalam Central Bank Order, 2010;
any of its directors;
any firm in which it or any of its directors is a partner, manager or agent, or to any individual or firm of whom or of which any of its directors is a guarantor;
any undertaking that is, a group undertaking in relation to the bank;
any of its officers, employees or other persons being persons receiving remuneration (exclusive of benefit and allowance) from it,
Banking where the amount of the advance, loan or credit facilities exceeds one year’s remuneration of the officer, employee or other person;
any private or public company in which the bank or any of its directors, officers, employees or other persons who receive remuneration from the company has an interest as a director, manager, agent or guarantor; or
any individual in whom, and any firm or company in which, any of its directors has an interest, directly or indirectly, as declared under the provisions of section 31, other than advances, loans and credit facilities particulars of which have already been supplied pursuant to paragraphs (a), (b), (c), (d) and (e) of this subsection.
If, from an examination of the particulars supplied by a bank under subsection (1), it appears to the Authority that any advances, loans or credit facilities falling within that subsection are being or have been granted to the detriment of the public interest, the Authority may by order in writing —
credit facilities
“credit facilities” means — (a) the granting of advances, loans and other facilities whereby a customer of the bank has access to funds or financial guarantees; or (b) the incurring by a bank of other liabilities on behalf of the customer;
prohibit the bank concerned from granting any further advances, loans or credit facilities falling within subsection (1) or impose such restrictions on the grant thereof as the Authority thinks fit; and
direct the bank to secure repayment of any such advances, loans or credit facilities already made within such time and to such extent as may be specified in that order.
In this section, “director” includes the wife, husband, father, mother, son and daughter of a director.
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;
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;
company
Defined · s 2“company” means a body corporate incorporated or registered in Brunei Darussalam under the Companies Act;
credit facilities
Defined · s 2“credit facilities” means — (a) the granting of advances, loans and other facilities whereby a customer of the bank has access to funds or financial guarantees; or (b) the incurring by a bank of other liabilities on behalf of the customer;
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;
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