International Banking Order, 2000 · As enacted
10. (1.)
Official textFrom Attorney General's Chambers, unchanged
Where the licensee is an international business company or is incorporated under the Companies Act (Chapter 39), no person shall become an indirect ten per cent, twenty per cent, thirty-three per cent, or majority controller of a licensee unless he has served on the Authority a written notice that he intends to become such a controller and the Authority has given its prior written approval.
licensee
"licensee" means a bank which is for the time being the holder of a licence;
Terms defined in s 2
international business company
Defined · s 2"international business company" has the same meaning. as in the International Business Companies Order, 2000;
licensee
Defined · s 2"licensee" means a bank which is for the time being the holder of a licence;
the Authority
Defined · s 2"the Authority" means such person or body as is appointed by His Majesty the Sultan and Yang Di-Pertuan to be the Authority for the purposes of this Order;