Deposit Protection Act · 2023 Revised Edition · Chapter 2
14. Board may make by-laws
Official textFrom Attorney General's Chambers, unchanged
The Board may make such by-laws as are necessary or expedient in relation to the administration, management, control, business, assets and affairs of the Corporation including —
the functions, powers, duties, remuneration, benefits and terms and conditions of services, code of conduct or surcharge on officers, employees and agents of the Corporation;
the conflicts of interest in respect of serving directors, officers and employees of the Corporation and those directors, officers and employees who have left the service of the Corporation;
the appointment, terms of reference and activities of committees established by the Corporation;
the rules and procedures to be observed by the directors at
Board meetings; or
such other matters as may be required to be provided for under the by-laws in this Act.
By-laws made under this section shall be binding on all persons to whom the by-laws apply.
Any person who does not comply with the by-laws made under subsection (1)(b) is guilty of an offence under this Act.
Deposit Protection 16
deposit protection
“deposit protection” means the protection provided to the depositors of a member institution in case of its failure to pay its deposits;
Terms defined in s 2
Corporation
Defined · s 2“Corporation” means the Brunei Darussalam Deposit Protection Corporation established by section 3;
deposit protection
Defined · s 2“deposit protection” means the protection provided to the depositors of a member institution in case of its failure to pay its deposits;
Chapter 3
Chapter 4
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Finance
Part 4
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Offences
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