Deposit Protection Act · s 26

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26.
Definition of deposit
In this Part —
“deposit” means the unpaid balance of the aggregate of deposits as defined in section 2 received or held by a member institution from or on behalf of a person in the usual course of the business of deposit-taking of the member institution and shall include —
(a) non-member institution Brunei dollar and foreign currency deposits;
[S 67/2012]

Deposit Protection
(b) a bank draft, certified cheque or other similar instrument or payment instruction, drawn or made against a deposit account for which the member institution is primarily liable;
(c) a cheque entered into a payment system or a clearing house notwithstanding any delay or failure by the member institution in crediting the account; or
(d) any other liability or financial instrument as may be specified by the Corporation, but excludes —
(i) a deposit that is not payable in Brunei Darussalam;
(ii) money market deposits;
(iii) any structured deposits;
(iv) negotiable instruments of deposit and other bearer deposits;
(v) repurchase agreements; and
(vi) any other liability or financial instrument as may be specified by the Corporation;
“trust accounts” includes monies held on account for the purpose of trust.

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s 26Definition of deposit

In this Part —

“deposit” means the unpaid balance of the aggregate of deposits as defined in section 2 received or held by a member institution from or on behalf of a person in the usual course of the business of deposit-taking of the member institution and shall include —

(a)

non-member institution Brunei dollar and foreign currency deposits;

[S 67/2012]

Deposit Protection

(b)

a bank draft, certified cheque or other similar instrument or payment instruction, drawn or made against a deposit account for which the member institution is primarily liable;

(c)

a cheque entered into a payment system or a clearing house notwithstanding any delay or failure by the member institution in crediting the account; or

(d)

any other liability or financial instrument as may be specified by the Corporation, but excludes —

(i)

a deposit that is not payable in Brunei Darussalam;

(ii)

money market deposits;

(iii)

any structured deposits;

(iv)

negotiable instruments of deposit and other bearer deposits;

(v)

repurchase agreements; and

(vi)

any other liability or financial instrument as may be specified by the Corporation;

“trust accounts” includes monies held on account for the purpose of trust.