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Contents

Part IV

Section 27

The Board may-

(a)

open accounts with and accept deposits payable on demand on behalf of, banks and other monetary institutions abroad and banks in Brunei

Darussalam;

(b)

purchase, sell, discount and re-discount Treasury Bills and short-term Government securities payable in Brunei dollars forming part of a public issue;

(c)

purchase and sell publicly issued securities, of or guaranteed by, the Government payable in Brunei dollars and maturing in not more than 30 years:

Provided that the par value or the cost price whichever shall be higher of the total holding of such securities does not exceed 15 per cent of the aggregate amount of the Board's demand liabilities;

(d)

act generally as agent for the Government on such conditions as may be agreed between the Board and the Government, where the Board shall act appropriately and consistently within the provisions of this Order and within its role as a monetary authority;

(e)

grant advances or other credit facilities to fmancial institutions for periods not exceeding 3 months against Treasury Bills and short-term

Government securities, or against other collateral that the Board unanimously considers as appropriate;

(f)

act as agents for any international monetary institution established under governmental auspices;

(g)

acquire, hold and dispose of movable and immovable property where such action is necessary for the purpose of discharging its functions under this Order;

(h)

charge such fee as may prescribed for any services rendered; and

(i)

subject to the provisions of this Order, do all such things as are incidental to or consequential upon the exercise of its powers or the discharge of its duties under this Order.

Reserve Fund.

Report