Islamic Banking Act · s 106

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106.
Disqualification of directors and employees of Islamic banks
(1) Notwithstanding the provisions of any other written law, except with the consent in writing of the Authority, no person —
(a) who is or becomes bankrupt, suspends payments or compounds with his creditors;
(b) who is or has been convicted in any country or territory of an offence involving dishonesty or fraud and has not received a free pardon for that offence; or
(c) who has been a director of, or directly concerned in the management of, an Islamic bank which is being or has been wound up by a court or the licence of which has been revoked, shall act or continue to act as the director, manager, secretary or other officer of any Islamic bank.
(2) Without the approval of the Authority, no person may be nominated as a director of any Islamic bank incorporated in
Brunei Darussalam.
(3) Without the approval of the Authority, no person may be nominated as a manager or person discharging similar functions.
(4) The Authority may at any time, by notice in writing, remove any director or manager of, or any person discharging similar functions in any
Islamic bank incorporated in Brunei Darussalam.

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s 106Disqualification of directors and employees of Islamic banks

(1)

Notwithstanding the provisions of any other written law, except with the consent in writing of the Authority, no person —

(a)

who is or becomes bankrupt, suspends payments or compounds with his creditors;

(b)

who is or has been convicted in any country or territory of an offence involving dishonesty or fraud and has not received a free pardon for that offence; or

(c)

who has been a director of, or directly concerned in the management of, an Islamic bank which is being or has been wound up by a court or the licence of which has been revoked, shall act or continue to act as the director, manager, secretary or other officer of any Islamic bank.

(2)

Without the approval of the Authority, no person may be nominated as a director of any Islamic bank incorporated in

Brunei Darussalam.

(3)

Without the approval of the Authority, no person may be nominated as a manager or person discharging similar functions.

(4)

The Authority may at any time, by notice in writing, remove any director or manager of, or any person discharging similar functions in any

Islamic bank incorporated in Brunei Darussalam.