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
A bank that holds any money of a kind referred to in section 85
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;
in an account referred to in section 84(1) shall make reasonable efforts —
to identify and locate the owner of the money; and
to ensure that the money is paid to the owner of the money.
Money held by a bank in an account is not unclaimed money, notwithstanding the provisions of section 84, unless, after making reasonable efforts and after a reasonable period has passed, the bank is unable to ensure that the money is paid to the owner of the money.
This section does not apply in respect of any money that is not unclaimed money because of section 87.
Banking 84
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;