In forceAs enacted

Contents

Subsidiary Legislation · As enacted

International Banking (Fees, Forms and Miscellaneous Provisions) Regulations, 2000

Official textFrom Attorney General's Chambers, unchanged

s 1These Regulations may be cited as the International Banking (Fees, Forms and

Miscellaneous Provisions) Regulations, 2000 and shall commence on the day appointed for the commencement of the International Banking Order, 2000.

Application fee.

s 2

These application fee payable under section 4( 1) of the Order is five thousand dollars.

Annual licence fees.

s 3The annual licence fees in respect of licences granted under section 6 of the

Order to carry on banking business is -

full international licence international investment banking licence international Islamic banking licence restricted international banking licence

Manner of payment.

s 4United States Dollars 50,000 35,000 50,000 25,000

(1)

A bank licensed under the Order shall1 immediately upon being granted a licence, pay the appropriate annual licence fee to the Authority.

1537

(2)

Without prejudice to sub-regulation (1), the annual licence fees payable by a licensee thereafter shall become due on each anniversary of the grant of the licence. If the annual licence fee is not paid within sixty days of the due date, a penalty of twenty-five per cent of the licence fee shall immediately be payable.

Confirmation by home authority.

s 5

In addition to the forms and documents specified in section 4 of the Order, an institution desiring to conduct international banking business in Brunei

Darussalam shall supply written confirmation given by its home country supervisor that such supervisor agrees to the licensee conducting banking business in Brunei Darussalam under the class of licence applied for.

Forms.

s 6

(1 J The forms set out in the Schedule are prescribed as the forms to be used for the purposes of the Order.

(2)

Strict compliance with the forms in the Schedule is not required and substantial compliance is sufficient.

(3)

When a form requires certain particulars, such particulars are included as matters prescribed.

General requirements for documents lodged with Registrar.

s 7

A document to be lodged with the Authority shall comply with the following requirements -

{a) the document shall be clearly printed on paper of medium weight, good quality and of international sheet A4 size;

(b)

with the consent of the Authority, the document may be facsimile or photocopy.

Maintenance of unimpaired capital.