3. Establishment and Constitution of the Board

(1)

There is hereby established a Board which shall be known as the

Brunei Darussalam Currency Board.

(2)

The Board shall be a body corporate and shall have perpetual succession and a corporate seal, and may sue and be sued in its own name.

(3)

The Board shall consist of the following Members — [S 9/98]

(a)

the Minister of Finance or in his place a person designate by name by His Majesty the Sultan and Yang Di-Pertuan;

[S 10/98]

(b)

such number of other persons, one of whom shall possess recognised banking or financial experience, as His Majesty the sultan and Yang Di-Pertuan may appoint.

(4)

The Minister of Finance shall be Chairman of the Board: [S 10/98]

Provided that where His Majesty the Sultan and Yang Di-Pertuan has designated a person in place of the Minister of Finance under subsection

(3)

(a)

, that person shall be Chairman of the Board.

Report

Read on from s 4

Part III

Brunei Darussalam Currency

Read on from Part III

Part IV

Assets, Reserves and Powers

Read on from Part IV

Part V

Administrative and General

Read on from Part V