Islamic Banking Act · 2024 Revised Edition · Part · Powers of Control Over Islamic Banks
64. Remuneration and expenses of Authority and others
Official textFrom Attorney General's Chambers, unchanged
The Authority may at any time (whether or not the appointment of such person has been terminated) fix the remuneration and expenses to be paid by an Islamic bank to any person appointed by the Authority under section 59 or 60 to advise an Islamic bank in the proper conduct of its business.
Authority
“Authority” means the Brunei Darussalam Central Bank established by the Brunei Darussalam Central Bank Order, 2010;
Where, under section 59(2)(c) or 60(b), the Authority has assumed control of the business of a licensed Islamic bank or some other person has assumed control of the business of such an Islamic bank pursuant to a direction or orders of the Authority, the Authority may, at any time, whether or not the Authority or that other person has ceased to be in control of the business of the Islamic bank, fix the remuneration and expenses to be paid by the Islamic bank to the Authority and to any person employed or authorised by the Authority under section 63(3) to assist the Authority in the control of and the carrying on of the business of the Islamic bank, or to that other person, as the case may be.
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;
Terms defined in s 2
Authority
Defined · s 2“Authority” means the Brunei Darussalam Central Bank established by the Brunei Darussalam Central Bank Order, 2010;
Islamic bank
Defined · s 2“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;
Part
Overseas Branches and Representative Offices of Domestic Islamic Banks
Part
Unclaimed Balances
Part
Invitations to Make Deposits
Part