National Bank of Brunei; National Finance Sendirian Berhad Act · 1999 Revised Edition
Section 7
Official textFrom Attorney General's Chambers, unchanged
Subject to section 7(2), neither the Bank nor the
Bank
"Bank" means National Bank of Brunei Berhad, a company incorporated in Brunei Darussalam;
Finance
Company shall from commencement make any payment to any person in respect of any loan ma~e by such person to or any balance standing to the credit of any account held by such person with the Bank or, as the case may be, the
Finance Company.
Finance Company
"Finance Company" means National Finance Sendirian Berhad, a company incorporated in Brunei Darussalam;
Section 7(1) shall not c;lpplyto -
all or any sum credited to an account of any person during the period from the ninetieth day prior to commencement to the tenth day after commencement by such person's employer in respect of such person's wages or salary or other amounts owing to such person arising from his employment;
all or any sum credited to a current account of any person in the ordinary course of business, pro-vided that such account is utilised by such person in the operation of a lawful business carried on in Brunei
Darussalam;
and
all or any sum owed by the Bank or the
Finance Company to or credited to any other account or accounts at the Bank or the Finance Company of any natural person resident in Brunei Darussalam up to in each case the aggregate amount of $1,000
provided that this exclusion shall not apply to any sum owed to or credited to any account of an excluded person.
'National Bank of Brunei Berhad;
National Finance Sendirian Berhad
CAP. 156 13
Without limiting the generality of section 7(1) and in addition thereto but subject! to section 7(2), from commencement-
except with the permission of the Controller, no order given or request made by or on behalf of any person (other than the Controller) shall be carried out in so far as such order or request -
would require either the Bank dr the
Finance Company to make any payment or part with any asset; or
would require the Bank or the Finance
Company to make any alteration in the person to whose credit any sum is to be held by it or to whose order any asset is to be held by it ; and
no person shall demand payment of, realise, seek or acquire security for the performance of, dispose of, transfer, seek recovery of or otherwise deal with any obligation which the Bank or the Finance
Company may owe to such person save in any case to the extent that the Controller may permit.
Terms defined in s 2
Bank
Defined · s 2"Bank" means National Bank of Brunei Berhad, a company incorporated in Brunei Darussalam;
excluded person
Defined · s 2"excluded person" means any person whom the Controller may from time to time designate as an excluded person for the purposes hereof;
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;