Brunei Darussalam Central Bank Order, 2010 (Formerly Known as Autoriti Monetari Brunei Darussalam Order) · As enacted · Part III
34. Directions or regulations to prevent money-laundering and terrorism financing
Official textFrom Attorney General's Chambers, unchanged
( 1)
The Authority may issue such directions or make such regulations concerning any financial institution or class of financial institution as the 5019
financial institution
"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; (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; (e) such other person licensed, approved or regulated by the Authority under any written law;
Authority considers necessary for the prevention of money~laundering or for the prevention of the financing of terrorism.
A financial institution which fails or refuses to comply with any direction issued under subsection (1) or contravenes any regulations made under that subsection, is guilty of an offence and liable on conviction to a fine not exceeding $1,000,000 and, in the case of a continuing offence, to a further fine of
$100,000 for every day during which the offence continues after conviction.
In this section, "financial institution" has the same meaning as in section 33(6).
Terms defined in s 2
financial institution
Defined · s 2"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; (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; (e) such other person licensed, approved or regulated by the Authority under any written law;
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Relations with Banks and Financial Institutions
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