National Bank of Brunei; National Finance Sendirian Berhad Act · 1999 Revised Edition
Section 6
Official textFrom Attorney General's Chambers, unchanged
Each former officer and the former auditors shall
former officer
"former officer" means (a) any person removed from office by section 5(2); and (b) any person who was accustomed to act or did act in accordance with the instructions of any person removed from office by section 5(2); and (c) any person in accordance with whose instructions any person removed from office by section 5(2) was National Bank of Brunei Berhad; National Finance Sendirian Berhad accustomed or did act; and (d) any other person who immediatelyprior to commencementwas an officerof the Bank or the Finance Company;
Liability of remain liable for all his or their acts and omissions in respect
~=:s and of the period prior to commencement.
auditors
. If it appears to the Controllerthat at any timeprior to commencement any business of either the Bank or the
Bank
"Bank" means National Bank of Brunei Berhad, a company incorporated in Brunei Darussalam;
Finance Company was carried on with intent to defraud any person or for any fraudulent purpose, the High Court, on the application of the Controller, may, if it thinks proper so to do, declare that any person who was knowingly party to the carrying on of business in the aforesaid manner shall be personally responsible, without any limitation of liability (a)
Finance Company
"Finance Company" means National Finance Sendirian Berhad, a company incorporated in Brunei Darussalam;
for all or any of the debts or other liabilities of the Bank or the
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National Bank of Brunei Berhad;
National Finance Sendirian Berhad
Finance Company as the High Court may direct; and (b) to reimburse and indemnify each of the Bank and the Finance
Company for and against all losses suffered by it as a result thereof.
Freezingof accounts etc.
Any person who was knowingly party to the carrying on of business in the manner described in section 6(2)
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;
shall also be guilty of an offence: Penalty, imprisonment for 10 years and a fine.
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;
former officer
Defined · s 2"former officer" means (a) any person removed from office by section 5(2); and (b) any person who was accustomed to act or did act in accordance with the instructions of any person removed from office by section 5(2); and (c) any person in accordance with whose instructions any person removed from office by section 5(2) was National Bank of Brunei Berhad; National Finance Sendirian Berhad accustomed or did act; and (d) any other person who immediatelyprior to commencementwas an officerof the Bank or the Finance Company;
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;