Brunei Darussalam Central Bank Order, 2010 (Formerly Known as Autoriti Monetari Brunei Darussalam Order) · s 33

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33.
(1)
The Authority may-
{a)
issue such directions to a financial institution or class of financial institution; and 5018

(b}
make such regulations concerning any financial institution or class of financial institutions or relating to the activities of any financial institution or class of financial institution, as the Authority considers necessary in order to discharge or facilitate the discharge of any obligation binding on Brunei Darussalam by virtue of a decision of the Security Council of the United Nations.
(2)
A financial institution to which a direction is issued under subsection
(l){a) or which is bound by any regulations made under subsection (l){b) shall comply with such direction or regulations, notwithstanding any other duty imposed on that financial institution by any rule of law, written law or contract.
(3)
A financial institution shall not in carrying out any act in compliance with any direction or regulations made under subsection ( 1) be treated as being in breach of any such rule of law, written law or contract.
(4)
A financial institution shall not disclose any direction issued under subsection ( 1){a) if the Authority notifies the financial institution that the
Authority is of the opinion that the disclosure of the direction is against the public interest.
(5)
A financial institution which -
{a)
fails or refuses to comply with a direction issued to it;
{b) contravenes any regulations made under subsection (l){b); or
{c)
discloses a direction issued to it in contravention of subsection (4), is guilty of an offence and liable on conviction to a fine not exceeding
$1,000,000.
(6)
In this section, "financial institution" includes -
{a)
any bank; and
{b) any person who is exempted from being licensed, approved, registered or regulated under any of the laws referred to in the definitions of
"financial institution" and "bank", but does not include such person or class of persons as the Authority may, by regulations made under this section, prescribe.

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s 33

(1)

The Authority may-

{a)

issue such directions to a financial institution or class of financial institution; and 5018

(b}

make such regulations concerning any financial institution or class of financial institutions or relating to the activities of any financial institution or class of financial institution, as the Authority considers necessary in order to discharge or facilitate the discharge of any obligation binding on Brunei Darussalam by virtue of a decision of the Security Council of the United Nations.

(2)

A financial institution to which a direction is issued under subsection

(l)

{a) or which is bound by any regulations made under subsection (l){b) shall comply with such direction or regulations, notwithstanding any other duty imposed on that financial institution by any rule of law, written law or contract.

(3)

A financial institution shall not in carrying out any act in compliance with any direction or regulations made under subsection ( 1) be treated as being in breach of any such rule of law, written law or contract.

(4)

A financial institution shall not disclose any direction issued under subsection ( 1){a) if the Authority notifies the financial institution that the

Authority is of the opinion that the disclosure of the direction is against the public interest.

(5)

A financial institution which -

{a)

fails or refuses to comply with a direction issued to it;

{b) contravenes any regulations made under subsection (l){b); or

{c)

discloses a direction issued to it in contravention of subsection (4), is guilty of an offence and liable on conviction to a fine not exceeding

$1,000,000.

(6)

In this section, "financial institution" includes -

{a)

any bank; and

{b) any person who is exempted from being licensed, approved, registered or regulated under any of the laws referred to in the definitions of

"financial institution" and "bank", but does not include such person or class of persons as the Authority may, by regulations made under this section, prescribe.