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 · Invitations to Make Deposits
Banking Act · 2024 Revised Edition · Part · Invitations to Make Deposits
Official textFrom Attorney General's Chambers, unchanged
Subject to section 96 and to subsection (2) of this section, no person other than a bank shall issue, publish or otherwise facilitate any person to issue or publish an advertisement containing —
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;
any invitation to make a deposit or to enter into or offer to enter into any agreement to make a deposit;
any information which is intended or might reasonably be presumed to be intended to lead directly or indirectly to the making of a deposit.
Banking
Subsection (1) does not apply to the publication by any person of any such advertisement for or on behalf of a bank.
Any person who contravenes subsection (1) is guilty of an offence and liable on conviction to a fine not exceeding $5,000,000, imprisonment for a term not exceeding 5 years or both.
agreement
“agreement” means an agreement whether formal or informal and whether express or implied;
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;
Part