National Bank of Brunei; National Finance Sendirian Berhad Act · 1999 Revised Edition
Section 10
Official textFrom Attorney General's Chambers, unchanged
Upon commencement, all rights attaching to all shares or stock in the issued share capital of each of the Bank and its subsidiaries and the Finance
Company shall be suspended until such time as the Controller orders the termination of such suspension.
the Controller
"the Controller" means the person appointed by His Majesty the Sultan and Yang Di-Pertuan as Controller of the Bank and the Finance Company for the purposes of this Act;
If, after commencement, a person other than the
person
"person" includes an individual, body, company, corporation, sole trader, firm, joint venture, asso-ciation, trust, syndicate, group, organisation, entity or a partnership of all or any of the foregoing, in each case whether or not having separate legal personality;
Controller would, apart from pursuant to this Act, have-
a right to require the issue of, or to subscribe for or purchase, or otherwise acquire, any shares or stock in the capital of the Bank or the Finance
Company; or
a right to appoint any person, or to be appointed, as a director or other officer of the Bank or the Finance Company; or
a right, whether express or implied, to exercise, whether wholly or in part, any power of control or direction of the Bank or the Finance Company, its management, property, assets or undertaking, that right shall cease except to the extent directed by the
Controller, provided that the cessation of a right of the type referred to in paragraph (a) shall in no way affect an obligation to subscribe for or purchase shares or stock referred to therein.
Terms defined in s 2
Bank
Defined · s 2"Bank" means National Bank of Brunei Berhad, a company incorporated in Brunei Darussalam;
Finance Company
Defined · s 2"Finance Company" means National Finance Sendirian Berhad, a company incorporated in Brunei Darussalam;
person
Defined · s 2"person" includes an individual, body, company, corporation, sole trader, firm, joint venture, asso-ciation, trust, syndicate, group, organisation, entity or a partnership of all or any of the foregoing, in each case whether or not having separate legal personality;
the Controller
Defined · s 2"the Controller" means the person appointed by His Majesty the Sultan and Yang Di-Pertuan as Controller of the Bank and the Finance Company for the purposes of this Act;