Banking Act · 2024 Revised Edition · Part 7
57. Confidentiality of inspection and investigation reports
Official textFrom Attorney General's Chambers, unchanged
Where a written report or any part thereof (referred to in this section as the report) has been produced in respect of any bank in
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;
Brunei Darussalam —
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by the authority upon an inspection under section 53 or an investigation under section 54; or
by a parent supervisory authority upon an inspection under section 56, the report shall not be disclosed by the bank, or any officer or auditor of the bank, to any other person except in the circumstances provided under subsection (2).
Disclosure of the report referred to in subsection (1) may be made —
by the bank in Brunei Darussalam to any officer or auditor of that bank solely in connection with the performance of the duties of the officer or auditor, as the case may be, in that bank;
by any officer or auditor of the bank in Brunei Darussalam to any other officer or auditor of that bank, solely in connection with the performance of their duties in that bank;
to the Authority if requested by the Authority, where the report has been produced by a parent supervisory authority; or
to any other person as the Authority may approve in writing.
In granting written approval for any disclosure under subsection (2)(d), the Authority may impose such conditions as it considers appropriate.
Authority
“Authority” means the Brunei Darussalam Central Bank established by the Brunei Darussalam Central Bank Order, 2010;
The obligation on an officer or auditor referred to in subsection (1) shall continue after the termination or cessation of his employment or appointment at the bank.
officer
“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;
Any person to whom the report is disclosed and who knows or has reasonable grounds for believing, at the time of the disclosure, that report was disclosed to him in contravention of subsection (1) is guilty of an offence, unless he proves that —
the disclosure was made contrary to his desire;
where the disclosure was made in any written form, he has as soon as practicable surrendered or taken all reasonable steps to surrender the report and all copies thereof to the Authority; and
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where the disclosure was made in an electronic form, he has as soon as practicable taken all reasonable steps to ensure that all electronic copies of the report have been deleted and that the report and all copies thereof in other forms have been surrendered to the
Authority.
Any person who contravenes subsection (1) or fails to comply with any condition imposed by the Authority under subsection (3), is guilty of an offence and liable on conviction to a fine not exceeding $150,000, imprisonment for a term not exceeding 3 years or both.
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;
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
Overseas Branches and Representative Offices of Domestic Banks
Part
Unclaimed Balances
Part
Invitations to Make Deposits
Part