Section 2

financial leasing;

money transmission services;

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issuing and administering means of payment, such as credit cards, charge cards, travellers’ cheques and bankers’

drafts;

guarantees and commitments;

trading for own account or for account of customers in one or more of money market instruments, foreign exchange, financial futures and options, exchange and interest rate instruments and transferable securities;

participation in share issues and the provision of services relating to such issues;

advice to undertakings or capital structure, industrial strategy and related questions and advice and services relating to mergers and the purchase of undertakings;

money broking;

portfolio management and advice;

safekeeping and administration of securities;

credit reference services;

safe custody services;

bank assurance; and

such other business as may be approved in writing by the Authority with the approval of the Minister;

“company” means a body corporate incorporated or registered in

Brunei Darussalam under the Companies Act (Chapter 39);

“controller” shall be construed in accordance with Part 2 of

Schedule 1;

“credit facilities” means —

the granting of advances, loans and other facilities whereby a customer of the bank has access to funds or financial guarantees; or

the incurring by a bank of other liabilities on behalf of the customer;

“deposit liability” means liability in respect of a deposit (as so construed), including where appropriate, a sum due as a debt to

Banking

B.L.R.O. 6/2024 13

the Authority by virtue of section 62(4), and “depositor” and related expressions shall be construed accordingly;

“director” includes any person occupying the position of director of a company, whatever the title of his office, and includes a person in accordance with whose directions or instructions the directors of a company are accustomed to act and an alternate or substitute director;

“document” includes a circular brochure, pamphlet, poster, handbill, prospectus and other document which is directed at or likely to be read by members of the public; and also includes any newspaper, magazine, journal or other periodical publication;

“licence” means a licence granted under section 4 or 23;

“licensed moneylender” means a moneylender licensed under section 3 of the Moneylenders Act (Chapter 62);

“Minister” means the Minister of Finance and Economy;

“officer”, in relation to a company, includes —

a director, the secretary or an employee of the company;

a receiver or manager of any part of the undertaking of the company appointed under a power contained in any instrument; and

the liquidator of the company appointed in a voluntary winding up;

“owner of money” means the person who is entitled to the money

(or the person who would be so entitled except for the operation of the Limitation Act (Chapter 14)), and includes his executors, administrators and assigns and the lawful attorney or agent of the person, guardian, executor, administrator or assign;

“parent undertaking” shall be construed in accordance with

Part 3 of Schedule 1;

“place of business”, in relation to a bank, includes a head or main office, a branch, an agency, a mobile branch of the bank, any office established and maintained for a limited period only and any other place used by the bank for the dispensing or acceptance

Banking 14

of money on account or for the conduct of other banking business;

“Registrar” has the same meaning as in the Companies Act

(Chapter 39);

“share”, in relation to an institution, means a share in the share capital of that institution and includes an interest in such share;

“subsidiary undertaking” (and references to a subsidiary) shall be construed in accordance with Part 3 of Schedule 1;

“undertaking” shall be construed in accordance with Part 3 of