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Subject to the issue by the Authority of a letter of confirmation on such terms as the Authority may consider desirable and subject to compliance with any other Order or requirement relating to the licensing of entities or activities conducted in or from within Brunei Darussalam the persons and activities specified in the Third Schedule are not required to be licensed under this Order.

The Auhority may in such manner and on such terms as it considers fit exempt any person, business or profession or class of persons or class of business or profession from any of the provisions of this Order.

Any exemption given under subsection (2) may contain different provisons for different classes of person, business or profession, or international banking business, or with respect to any provisions of this Order.