Section 12

has a fully paid-up share capital of not less than one hundred and fifty thousand Brunei dollars or the equivalent in another currency acceptable to the Authority, or such greater sum as the Authority may prescribe; or

has an authorised capital of not less than one hundred and fifty thousand Brunei dollars or such greater sum as the Authority may prescribe, of which not less than seventy-five thousand dollars has been fully paid and provides a guarantee under seal given by a holding or parent or other company in a sum and on terms approved by the Authority (such guarantee expressly providing that its formal and essential validity, its interpretation, effects, and the rights and obligations of the parties to it are governed exclusively by the law of Brunei Darussalam and that only the High Court shall be the forum for those purposes);

maintains and notifies the Authority of an established office in

has at all times no less than two individual directors ordinarily resident in Brunei Darussalam to be authorised agents in Brunei

shall before the appointment of a director, general manager, chief executive, financial controller, controller or other senior officer, exercising their functions in Brunei Darussalam apply to the

maintains within Brunei Darussalam adequate systems of control of its own and clients' business and records;

effects a policy of insurance with a reputable insurer approved by the Authority against -

the dishonesty of licensees or any employee;

loss of documents; and

such other risks as the Authority may from time to time prescribe, in such amount and of such a nature (including the identification of jurisdictions or territories covered) as is acceptable to the Authority.

forthwith notifies the Authority -

of any proposed change in its place of business in Brunei