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 · Powers of Control Over Islamic Banks
Islamic Banking Act · 2024 Revised Edition · Part · Powers of Control Over Islamic Banks
Official textFrom Attorney General's Chambers, unchanged
Where the Authority has taken action under section 59(2), the
Authority
“Authority” means the Brunei Darussalam Central Bank established by the Brunei Darussalam Central Bank Order, 2010;
Authority may, without prejudice to the power conferred by section 21(1)(g)
exercise one or more of the following powers —
confirm, vary or reverse any requirement, appointment or direction made by the Authority;
make such order as the Authority may think fit in relation to the affairs of the Islamic bank concerned and exercise any power which the Authority may exercise under section 59;
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;
present a petition to the High Court for the winding-up of the
Islamic bank by the High Court.
Authority
“Authority” means the Brunei Darussalam Central Bank established by the Brunei Darussalam Central Bank Order, 2010;
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;
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