Brunei Darussalam Central Bank Order, 2010 (Formerly Known as Autoriti Monetari Brunei Darussalam Order) · s 12

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s 12

(1)

His Majesty the Sultan and Yang Di-Pertuan shall appoint the directors of the board.

5009

(2)

The directors shall -

{a)

not act as delegates on the board from any commercial, financial, agricultural, industrial or other interest with which they are connected;

{b)

hold office for a term of 3 years and shall be eligible for re-appointment; and

{c)

be paid by the Authority out of the funds of the Authority such benefits and allowances as may be determined by His Majesty the Sultan and

Yang Di-Pertuan.

(3)

On the commencement of this Order, the initial terms of office of the directors mentioned in section 11(2){c), shall be -

{a)

for the director who is appointed as managing director under section 13(1), 3 years;

{b)

for all other directors, different terms not exceeding 3 years.