In force2021 Revised EditionCurrent version · 2021 Revised EditionSee versions on Attorney General's Chambers(opens the publisher’s site)
Finance Companies Act · 2021 Revised Edition · Part · Licensing of Finance Companies
Finance Companies Act · 2021 Revised Edition · Part · Licensing of Finance Companies
Official textFrom Attorney General's Chambers, unchanged
No finance company carrying on business in Brunei Dan~ssalam shall be merged or consolidated with or acquire a majority interest in any other finance company without the prior approval of the Authority.
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:
In considering such an application, the Authority shall have power to call for such information as he may require.
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]
The Authority may -
approve the application; or
refuse the application.
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]
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:
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