Syariah Financial Supervisory Board Act · 2024 Revised Edition
5. Directives
Official textFrom Attorney General's Chambers, unchanged
The Authority may issue written directives in relation to the businesses referred to in section 4(2) in accordance with the advice of the
Authority
“Authority” means the Brunei Darussalam Central Bank established by section 3(1) of the Brunei Darussalam Central Bank Order, 2010;
Board.
Board
“Board” means the Syariah Financial Supervisory Board established by section 3;
Any financial institution which fails to comply with or contravenes any written directive issued under subsection (1) is guilty of an offence and liable on conviction to a fine not exceeding $500,000 and to
financial institution
“financial institution” means any of the institutions set out in the Schedule;
Syariah Financial Supervisory Board a further fine not exceeding $5,000 for every day during which the contravention continues.
Power to issue guidelines etc. [S 36/2022]
Terms defined in s 2
Authority
Defined · s 2“Authority” means the Brunei Darussalam Central Bank established by section 3(1) of the Brunei Darussalam Central Bank Order, 2010;
Board
Defined · s 2“Board” means the Syariah Financial Supervisory Board established by section 3;
financial institution
Defined · s 2“financial institution” means any of the institutions set out in the Schedule;