In force2024 Revised EditionCurrent version · 2024 Revised EditionSee versions on Attorney General's Chambers(opens the publisher’s site)
Islamic Banking Act · 2024 Revised Edition · Part · General
Islamic Banking Act · 2024 Revised Edition · Part · General
Official textFrom Attorney General's Chambers, unchanged
Notwithstanding anything contained in the Articles of Association or regulations of any Islamic bank incorporated in Brunei Darussalam with respect to the execution of instruments under its seal, but without prejudice to anything in those Articles or regulations which is not inconsistent herewith, the seal of the Islamic bank shall not be affixed to any instrument except in the presence of a director of the Islamic bank and of one other person who is either a director or an officer of the Islamic bank duly authorised in that behalf, and the director and that other person shall sign every instrument to which the seal of the Islamic bank is so affixed in their presence.
Islamic bank
“Islamic bank” means a company which carries on Islamic banking business and holds a licence granted under section 4 or 23, and includes all branches and offices in Brunei Darussalam of any such company for the purposes of this Act;
Islamic Banking
director
“director” includes any person occupying the position of director of a company, whatever the title of his office, and includes a person in accordance with whose directions or instructions the directors of a company are accustomed to act and an alternate or substitute director;
Islamic bank
“Islamic bank” means a company which carries on Islamic banking business and holds a licence granted under section 4 or 23, and includes all branches and offices in Brunei Darussalam of any such company for the purposes of this Act;