In force2023 Revised EditionCurrent version · 2023 Revised EditionSee versions on Attorney General's Chambers(opens the publisher’s site)
Deposit Protection Act · 2023 Revised Edition · Part 4
Deposit Protection Act · 2023 Revised Edition · Part 4
Official textFrom Attorney General's Chambers, unchanged
No action may be taken against the Corporation in respect of the obligation of the Corporation to make payment in relation to a deposit held by a member institution that is being wound up unless the action is commenced within 10 years after the date of the commencement of the winding up of the member institution.
Corporation
“Corporation” means the Brunei Darussalam Deposit Protection Corporation established by section 3;
Corporation
“Corporation” means the Brunei Darussalam Deposit Protection Corporation established by section 3;
deposit
“deposit” means a deposit as defined in section 2(3) of the Banking Order, 2006, a deposit as defined in section 2(3) of the Islamic Banking Order, 2008 and a deposit as defined in section 2 of the Finance Companies Act, as the case may be;
member institution
“member institution” means any financial institution deemed to be a member institution under section 27 whose membership has not been cancelled under section 31 or terminated under section 32;
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Part