Islamic Banking Act · s 107

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107.
Offences by directors, managers, agents etc.
(1) A person being a director or manager of, or any person discharging similar functions in an Islamic bank who —
(a) fails to take all reasonable steps to secure compliance by an
Islamic bank with the provisions of this Act or any other written law applicable to Islamic banks in Brunei Darussalam; or
(b) fails to take all reasonable steps to secure the accuracy and correctness of any statement submitted under this Act or of any other written law applicable to Islamic banks in Brunei Darussalam,

Islamic Banking 100
is guilty of an offence and liable on conviction to a fine not exceeding $100,000, imprisonment for a term not exceeding 6 years or both.
(2) In any proceedings against a person under subsection (1), it shall be a defence to prove that he had reasonable grounds for believing that another person was charged with the duty of securing compliance with the requirements of those laws or with the duty of ensuring that those statements were accurate and that that person was competent and in a position to discharge that duty.
(3) A person shall not be sentenced to imprisonment for an offence under subsection (1) unless in the opinion of the court he has committed the offence wilfully.
(4) Any director, manager, trustee, auditor, employee or agent of any
Islamic bank who —
(a) wilfully makes or causes to be made, a false entry in any book of record or in any report, slip, document or statement of the business, affairs, transactions, condition, assets, accounts and any other record, however kept or maintained, of that Islamic bank;
(b) wilfully omits to make an entry in any book of record or in any report, slip, document or statement of the business, affairs, transactions, conditions, assets or accounts and under any records, however kept or maintained, of that Islamic bank, or wilfully causes any such entry to be omitted; or
(c) wilfully alters, abstracts, conceals or destroys an entry in any book of record or in any report, slip, document or statement of the business, affairs, transactions, conditions, assets or accounts and any other record, however kept or maintained, of that Islamic bank, or wilfully causes any such entry to be altered, abstracted, concealed, or destroyed, is guilty of an offence and liable on conviction to a fine not exceeding $100,000, imprisonment for a term not exceeding 6 years or both.

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s 107Offences by directors, managers, agents etc.

(1)

A person being a director or manager of, or any person discharging similar functions in an Islamic bank who —

(a)

fails to take all reasonable steps to secure compliance by an

Islamic bank with the provisions of this Act or any other written law applicable to Islamic banks in Brunei Darussalam; or

(b)

fails to take all reasonable steps to secure the accuracy and correctness of any statement submitted under this Act or of any other written law applicable to Islamic banks in Brunei Darussalam,

Islamic Banking 100

is guilty of an offence and liable on conviction to a fine not exceeding $100,000, imprisonment for a term not exceeding 6 years or both.

(2)

In any proceedings against a person under subsection (1), it shall be a defence to prove that he had reasonable grounds for believing that another person was charged with the duty of securing compliance with the requirements of those laws or with the duty of ensuring that those statements were accurate and that that person was competent and in a position to discharge that duty.

(3)

A person shall not be sentenced to imprisonment for an offence under subsection (1) unless in the opinion of the court he has committed the offence wilfully.

(4)

Any director, manager, trustee, auditor, employee or agent of any

Islamic bank who —

(a)

wilfully makes or causes to be made, a false entry in any book of record or in any report, slip, document or statement of the business, affairs, transactions, condition, assets, accounts and any other record, however kept or maintained, of that Islamic bank;

(b)

wilfully omits to make an entry in any book of record or in any report, slip, document or statement of the business, affairs, transactions, conditions, assets or accounts and under any records, however kept or maintained, of that Islamic bank, or wilfully causes any such entry to be omitted; or

(c)

wilfully alters, abstracts, conceals or destroys an entry in any book of record or in any report, slip, document or statement of the business, affairs, transactions, conditions, assets or accounts and any other record, however kept or maintained, of that Islamic bank, or wilfully causes any such entry to be altered, abstracted, concealed, or destroyed, is guilty of an offence and liable on conviction to a fine not exceeding $100,000, imprisonment for a term not exceeding 6 years or both.