37. Restrictions on commercial investment etc.

Terms defined in s 2

• Authority

  Authority

  Defined · s 2

  “Authority” means the Brunei Darussalam Central Bank established by the Brunei Darussalam Central Bank Order, 2010;

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• bank

  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;

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• banking business

  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;

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• capital funds

  capital funds

  Defined · s 2

  “capital funds”, in relation to a bank, means — (a) if the bank is a company whose head office is situated in Brunei Darussalam the paid-up capital and published reserves of the company (excluding such reserves as the Authority may specify by notice in writing) deduction having been made for any loss appearing in the accounts of the bank; (b) if the bank is a company whose head office is situated outside Brunei Darussalam, the net head office funds and such other liabilities as the Authority may decide: Provided that, except for the purposes of section 11, in determining the capital funds of a bank at any time there shall be deducted any debit balance appearing in the bank’s profit and loss account.

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• company

  company

  Defined · s 2

  “company” means a body corporate incorporated or registered in Brunei Darussalam under the Companies Act;

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• share

  share

  Defined · s 2

  “share”, in relation to an institution, means a share in the share capital of that institution and includes an interest in such share;

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