Finance Companies Act · 2021 Revised Edition · Part · General
34. Penalty for offences not otherwise provided for
Official textFrom Attorney General's Chambers, unchanged
Any finance company which, or person who, contravenes or fails to comply with any provisions of this Act or any order made under this Act for which no penalty is expressly provided is guilty of an offence and liable on conviction to a fine of $20,000 and imprisonment for 5 years.
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:
The Authority may, without instituting proceedings against any person for any offence against this Act, or any regulations made thereunder, which is punishable only by a fine or a default penalty, demand and receive the amount of such fine or default penalty or such reduced amount as he thinks fit from such person, whereupon -
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]
if such person pays such amount to the Authority within 14 days after the demand, no proceedings shall be taken against him in relation to the offence; and
if such person does not so pay the amount so demanded. the
Authority may cause proceedings to be instituted in relation to the offence.
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Finance Companies
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: