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In forceAs enacted
Contents

Order

Brunei Darussalam Central Bank Order, 2010 (Formerly Known as Autoriti Monetari Brunei Darussalam Order)

Part I

Preliminary

Official textFrom Attorney General's Chambers, unchanged

s 1Citation, commencement and long title

(1)

This Order may be cited as the Autoriti Monetari Brunei Darussalam

Order, 2010 and shall commence on the 1st. day of January, 2011.

(2)

The long title of this Order is "An Order to establish and incorporate the

Autoriti Monetari Brunei Darussalam to act as the central bank of Brunei

Darussalam, to formulate and implement monetary policy, to advise the

Government on monetary arrangements and to supervise financial institutions, and to provide for the transfer to it certain other functions and assets of the

Government and for matters connected therewith or incidental thereto".

s 2Interpretation

In this Order, unless the context otherwise requires

"Authority" "means the Autoriti Monetari Brunei Darussalam established by section 3( 1);

"bank" means-

{a}

in relation to Brunei Darussalam, a bank licensed under sections 4

or 23 of the Banking Order, 2006 (S 45/06), an international bank licensed under section 7 of the International Banking Order, 2000 {S 53/00) and an

Islamic bank licensed under sections 4 or 23 of the Islamic Banking Order,

2008 (S 96/08);

{b)

in relation to any country, territory or place outside Brunei

Darussalam, a person lawfully carrying on therein business corresponding in whole, in part or in substance to "banking business" as defined in section 2(1)

of the Banking Order, 2006 (S 45/06) or in section 2(1) of the International

Banking Order, 2000 {S 53/00); and includes Islamic banking business as defined in section 2(1) of the Islamic Banking Order, 2008 (S 96/08);

5004

"board" means the board of directors of the Authority established by section 11(1);

"director" means a director of the board appointed under section 12(1);

"financial institution" means

(a)

any insurer registered under the Insurance Order, 2006

(S 48/06) or the Takaful Order, 2008 (S 100/08) or any person licensed under the International Insurance and Takaful Order, 2002 (S 43/02);

{b} any finance company licensed under the Finance Companies

Act (Chapter 89);

(c)

any person licensed under the Registered Agents and Trustees

Licensing Order, 2000 (S 54/00), the Mutual Funds Order, 2001 (S 18/01), the Securities Order, 2001 (S 31/01) or the International Insurance and

Takaful Order, 2002 (S 43/02);

{d}

any person licensed to carry on any money-changing business or remittance business under the Money-Changing and Remittance

Businesses Act (Chapter 174);

(e)

such other person licensed, approved or regulated by the

Authority under any written law;

"managing director" means the director appointed to be the managing director under section 13( 1);

"Minister" means the Minister of Finance;

"Reserve Fund" means the reserve fund to be established under section 7 {a}.

Part II

Establishment and Capital of Authority

Read on from Part II

Part III

Read on from Part III

Part IV

Read on from Part IV

Part VI

Relations with Banks and Financial Institutions

Read on from Part VI

Part VII

Read on from Part VII

Part VIII

General

Read on from Part VIII

Schedules