Section 324

(Repealed by S 2 7/2019).

Rules [S 33/20] 61 324A.

(1)

The Minister may, with the approval of His Majesty the

Sultan and Yang Di-Pertuan, make such rules as may be necessary or a expedient for carrying out the purposes and provisions of this Act and for prescribing anything that may be required or authorised to be prescribed by this Act.

(2)

Without prejudice to the generality of subsection (I), rules may be made for or with respect to the corporate governance of companies incorporated in Brunei Darussalam or their related corporations.

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(3)

Rules made under this section may relate to all or any class, category or description of persons or companies, and may make different

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Companies provisions for different classes, categories or descriptions of persons or companies or to a particular person or company or of general or specifically limited application.

(4)

Except as otherwise expressly provided in this Act, rules made under this section may provide that any contravention thereof shall be an offence punishable -

(a)

in the case of an individual, with a fine not exceeding

$12,500, imprisonment for a term not exceeding 12 months or both and, in the case of a continuing offence, with a firther fine not exceeding $1,250 for every day or part thereof during which the offence continues after conviction; or

(b)

in any other case, with a fine not exceeding $25,000 and, in the case of a continuing offence, with a further fine not exceeding $2,500 for every day or part thereof during which the offence continues after conviction.

Companies

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Section 324

Terms defined in s 2

Schedules