Banking Act · 2024 Revised Edition · Part 7
64. Remuneration and expenses of Authority and others
Official textFrom Attorney General's Chambers, unchanged
The Authority may at any time (whether or not the appointment of such person has terminated) fix the remuneration and expenses to be paid
Authority
“Authority” means the Brunei Darussalam Central Bank established by the Brunei Darussalam Central Bank Order, 2010;
Banking 74
by a bank to any person appointed by the Authority under section 59 or 60 to advise a bank in the proper conduct of its business.
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;
Where, under sections 59(2)(c) and 60(b) the Authority has assumed control of the business of a licensed bank or some other person has assumed control of the business of such a bank pursuant to a direction or orders of the Authority, the Authority may, at any time, whether or not it or that other person has ceased to be in control of the business of the bank, fix the remuneration and expenses to be paid by the bank to the Authority and to any person employed or authorised by it under section 63(3) to assist it in the control of and the carrying on of the business of the bank, or to that other person, as the case may be.
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;
Part
Overseas Branches and Representative Offices of Domestic Banks
Part
Unclaimed Balances
Part
Invitations to Make Deposits
Part