Petroleum Authority of Brunei Darussalam Act · 2021 Revised Edition · Part · Financial Provisions
24. Power to borrow and invest
Official textFrom Attorney General's Chambers, unchanged
For the discharge of its functions under this Act, the Authority may raise financing from the Government or, with the approval of the
Authority
"Authority" means the Petroleum Authority of Brunei Darussalam established by section 3;
Minister who shall consult the Minister of Finance and Economy, raise financing from banks or other financial institutions (whether in or outside
Minister
"Minister" means the Minister responsible for petroleum matters: "person' has the same meaning assigned to it in section 2 of the Petroleum Mining Act;
Brunei Darussalam) by -
mortgage. overdraft or otherwise;
charge, whether legal or equitable. on any property vested in
Authority or on any other revenue receivable by the Authority under this Act; and
the creation and issuance of debentures, bonds or other instruments.
Petroleum Authority of Brunei Durussnlum
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Subject to the approval of the Minister who shall consult the
Minister of Finance and Economy, the Authority may invest its funds in such manner as the Minister thinks fit:
Terms defined in s 2
Authority
Defined · s 2"Authority" means the Petroleum Authority of Brunei Darussalam established by section 3;
Minister
Defined · s 2"Minister" means the Minister responsible for petroleum matters: "person' has the same meaning assigned to it in section 2 of the Petroleum Mining Act;
petroleum
Defined · s 2"petroleum" has the same meaning assigned to it in section 2 of the Petroleum Mining Act;
property
Defined · s 2"property" means property, assets, and rights of every description (whether present or future. and, actual or contingent) wheresoever situated, including, without limitation. land. buildings, facilities, equipment, documents (incl-uding accounting records), interests, benefits, privileges and powers of every description;
Part
Transfer of Company Petroleum
Part
Transfer of Government Petroleum
Part