In force2024 Revised EditionCurrent version · 2024 Revised EditionSee versions on Attorney General's Chambers(opens the publisher’s site)
Banking Act · 2024 Revised Edition · Part · Unclaimed Balances
Banking Act · 2024 Revised Edition · Part · Unclaimed Balances
Official textFrom Attorney General's Chambers, unchanged
Any bank that pays unclaimed money to the Authority in compliance with this Act is relieved from all further liability, other than a liability arising under any other written law in respect of the money concerned.
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;
This section does not operate to relieve a bank from —
any obligation to comply with section 70 or a requirement, notice or direction under this Part; or
liability in respect of money paid to the Authority in purported compliance with this Act if the Authority repays the money to the bank under this Part.
Authority
“Authority” means the Brunei Darussalam Central Bank established by the Brunei Darussalam Central Bank Order, 2010;
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;