Brunei Darussalam Central Bank Order, 2010 (Formerly Known as Autoriti Monetari Brunei Darussalam Order) · As enacted · Part II · Establishment and Capital of Authority
Official textFrom Attorney General's Chambers, unchanged
Within 3 months after the end of every financial year of the Authority, the Authority shall allocate the distributable earnings as follows
(a} where the total balance of the paid-up capital and the Reserve Fund is less than 20 per cent of the total assets at the end of the financial year,
Reserve Fund
"Reserve Fund" means the reserve fund to be established under section 7 {a}.
10 per cent of the distributable profit is to be transferred to the Reserve Fund until the 20 per cent level is met;
where the total balance of the paid-up capital and the Reserve Fund is greater than 20 per cent of total assets, 30 per cent of the distributable profit is to be transferred to the Reserve Fund and the balance of 70 per cent is to be transferred to the Government.
No distribution shall be made out of the current income of the Authority except as permitted by subsection ( 1).
If in any financial year the Authority incurs negative distributable earnings, these earnings shall first be charged to the Reserve Fund and subsequently be covered by capital.
Reserve Fund
"Reserve Fund" means the reserve fund to be established under section 7 {a}.
Part VI
Part VIII