Syariah Financial Supervisory Board Act · 2024 Revised Edition
Section 5A
Official textFrom Attorney General's Chambers, unchanged
The Authority may issue, in such manner as it considers appropriate, such guidelines, circulars or notes as it considers desirable in respect of —
Authority
“Authority” means the Brunei Darussalam Central Bank established by section 3(1) of the Brunei Darussalam Central Bank Order, 2010;
any of the provisions of this Act; or
the conduct of any financial institution.
Any financial institution which fails to comply with any of the provisions of a guideline, circular or note issued under this section that applies to it shall not of itself render that financial institution liable to criminal proceedings but any such failure may, in any proceedings whether civil or criminal, be relied on by any party to the proceedings as tending to establish or to negate any liability which is in question in the proceedings.
financial institution
“financial institution” means any of the institutions set out in the Schedule;
Any guideline, circular or note issued under this section —
may be of general or specific application; and
may specify that different provisions thereof apply to different circumstances or provide for different cases or classes of cases.
For the avoidance of doubt, any guideline, circular or note issued under this section is deemed not to be subsidiary legislation.
Membership of Board [S 36/2022]
Board
“Board” means the Syariah Financial Supervisory Board established by section 3;
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;