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bruneilawsby aturio
In force2015 Revised Edition
Contents

Part V · Property and Funds of Registered Societies

Section 32

(1)

Subject to the rules and its by-laws, a registered society may invest or deposit its surplus funds in —

(a)

any financial institution licensed under the Banking Order,

2006 (S 45/2006) or the Islamic Banking Order, 2008 (S 96/2008)

approved for this purpose by the Registrar;

(b)

any financial institution established by the Government;

(c)

any registered society approved for this purpose by the

Registrar;

Co-operative Societies

(d)

any bonds or securities issued in Brunei Darussalam under any written law;

(e)

such other investments and securities as are authorised under any written law for the investment of trust funds.

(2)

No registered society shall invest its surplus funds in any other mode, except with the approval of the Registrar, in —

(a)

the shares or securities of any other registered society;

(b)

the share capital or convertible or redeemable debenture stocks of any company or any body corporate registered in Brunei

Darussalam, other than those specified in subsection (1);

(c)

any joint venture company; or

(d)

its subsidiaries.

(3)

No registered society shall invest its funds exceeding a limit which shall be determined by its general meeting.

Capital gains. [S 61/2012]

Report

Read on from s 32A

Part VI

Audit, Inspection and Inquiry

Read on from Part VI

Part VII

Read on from Part VII

Part VIII

Surcharge and Attachment

Read on from Part VIII

Part IX

Disputes

Read on from Part IX

Part X

Rules

Read on from Part X

Part XI

General

Read on from Part XI