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 · Offences
Deposit Protection Act · 2023 Revised Edition · Part · Offences
Official textFrom Attorney General's Chambers, unchanged
No person shall hold itself out to be a member institution, or represent that it or any other person is protected under the Corporation unless such other person is a member institution.
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;
Any person who contravenes subsection (1) is guilty of an offence and is liable on conviction to a fine not exceeding $1,000,000, imprisonment for a term not exceeding 3 years or both and, in the case of a continuing offence, to a further fine not exceeding $10,000 for every day or part thereof during which the offence continues after conviction.
Corporation
“Corporation” means the Brunei Darussalam Deposit Protection Corporation established by section 3;
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;
Part