Companies Act · 2021 Revised Edition · Part · Management and Administration Registered Office and Name
141C. Disqualification to act as director on conviction of certain offences
Official textFrom Attorney General's Chambers, unchanged
Where a person is convicted (whether in Brunei Darussalam or elsewhere) of any offence involving fraud or dishonesty punishable with
158 CAP. 39
Companies imprisonment for 3 months or more, he shall be subject to the disqualifications provided in subsection (3).
Where a person is convicted in Brunei Darussalam of -
any offence in connection with the formation or management of a corporation; or
any offence under section 259, the Court may make a disqualification order in addition to any other sentence imposed.
A person who is disqualified under subsection (1) or who has had a disqualification order made against him under subsection (2) shall not act as a director of a company or of a company incorporated outside Brunei
director
"director" includes any person occupying the position of director of a corporation by whatever name called and includes a person in accordance with whose directions or instructions the directors of a Companies corporation are accustomed to act and an alternate or substitute director;
Darussalam to which Part 9 applies nor shall he take part, whether directly or indirectly, in the management of such a company or company incorporated outside Brunei Darussalam.
Where a disqualified person has not been sentenced to imprisonment, the disqualifications in subsection (3) shall take effect upon conviction and shall continue for a period of 5 years or for such shorter period as the Court may order under subsection (2).
Where a disqualified person is sentenced to imprisonment, the disqualifications in subsection (3) shall take effect upon conviction and shall continue for a period of 5 years after his release from prison.
A person who acts in contravention of a disqualification under this section is guilty of an offence and liable on conviction to a fine not exceeding $10,000, imprisonment for a term not exceeding 2 years or both.
An application for leave to act as a director of a company or of a company incorporated outside Brunei Darussalam to which Part 9
applies or to take part, whether directly or indirectly, in the management of such a company or company incorporated outside Brunei Darussalam may be made by a person against whom a disqualification order has been made
Companies
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upon that person giving the Minister not less than 14 days' notice of his intention to apply for such leave.
On the hearing of any application under this section, the
Minister may be represented at the hearing and may oppose the granting of the application.
The High Court may make a disqualification order under this section.
Any right to apply for leave of the Court to be a director or promoter or to be concerned or take part in the management of a company that was subsisting immediately before 3 1st December 2010, being the date of commencement of the Companies Act (Amendment) Order, 2010
(S 11 8/2010) shall on or after that date be treated as subsisting by virtue of the corresponding provision made under this section.
Terms defined in s 2
corporation
Defined · s 2"corporation" means any body corporate formed, incorporated or existing in Brunei Darussalam or outside Brunei Darussalam and includes any company to which Part 9 applies and any limited liability partnership but does not include - (a) any body corporate incorporated in Brunei Darussalam which is by notification published in the Gazette declared to be a public body or agency of the Government or a body corporate which is not incorporated for commercial purposes; (b) any corporation sole; (c) any co-operative society; (d) any registered trade union;
director
Defined · s 2"director" includes any person occupying the position of director of a corporation by whatever name called and includes a person in accordance with whose directions or instructions the directors of a Companies corporation are accustomed to act and an alternate or substitute director;
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Restrictions on Sale of Shares and Offers of Shares for Sale
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Prohibition of Partnerships with More Than Twenty Members
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