Brunei Investment Agency Act · 2019 Revised Edition · Part · Establishment and Administration of Agency
7. Appointment of Managing Director
Official textFrom Attorney General's Chambers, unchanged
His Majesty the Sultan and Yang Di-Pertuan shall appoint any person to be the Managing Director.
Managing Director
“Managing Director” means a director appointed under section 7(1).
The Managing Director shall be engaged on such terms and conditions of service as His Majesty the Sultan and Yang Di-Pertuan may decide.
The Managing Director shall be entrusted with the day-to-day administration of the Agency, and may, subject to this Act, make decisions and exercise all powers and do all acts which may be exercised or done by the Agency.
The Managing Director shall be answerable to the Board for his acts and decisions.
In the event of the absence or inability to act of the Managing
Director, His Majesty the Sultan and Yang Di-Pertuan may appoint a director, or an officer of the Agency who holds the office of assistant managing director or its equivalent or above, to discharge his duties during the period of such absence or inability:
director
“director” means a director appointed under section 5(2) and the Chairman of the Board and the Deputy Chairman;
Provided that the person duly appointed to act for the office of the
Managing Director, unless he is a director appointed under section 5, does
Brunei Investment Agency not have an absolute right to any privilege which the Managing Director may be entitled.
Terms defined in s 2
director
Defined · s 2“director” means a director appointed under section 5(2) and the Chairman of the Board and the Deputy Chairman;
Managing Director
Defined · s 2“Managing Director” means a director appointed under section 7(1).
Part 3
Part
Powers, Duties and Functions of Agency
Part