Finance Companies Act · 2021 Revised Edition · Part · General
31. Moratorium
Official textFrom Attorney General's Chambers, unchanged
The Authority may, if he considers it to be in the interests of the a depositors of a finance company, by order -
Authority
"Authority" means the Brunei Darussalam Central Bank established by the Brunei Darussalam Central Bank Order, 2010 (S 103120 10); [S 1 7/2 02 I]
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Finance Con~panies
prohibit a finance company from carrying on its business;
and
Coj stay the commencement or continuance of any actions or proceedings against a finance company in regard to its business for a specified period of time on such terms and conditions as he deems reasonable, and may extend the period up to a total period of moratorium of not more than 6 months.
So long as an order under subsection (1) remains in force, any licence granted to such finance company under this Act shall be suspended.
finance company
"finance company" means any company licensed under this Act, to carry on financing business or Islamic financing business, and all branches and offices in Brunei Darussalam of such a company is deemed to be one finance company for the purpose of this Act:
Terms defined in s 2
Authority
Defined · s 2"Authority" means the Brunei Darussalam Central Bank established by the Brunei Darussalam Central Bank Order, 2010 (S 103120 10); [S 1 7/2 02 I]
finance company
Defined · s 2"finance company" means any company licensed under this Act, to carry on financing business or Islamic financing business, and all branches and offices in Brunei Darussalam of such a company is deemed to be one finance company for the purpose of this Act: