Section 7
Appointment of Managing Director
of Brunei Investment Agency Act
(1)
His Majesty the Sultan and Yang Di-Pertuan shall appoint any person to be the Managing Director.
(2)
The Managing Director shall be engaged on such terms and conditions of service as His Majesty the Sultan and Yang Di-Pertuan may decide.
(3)
The Managing Director shall be entrusted with the day-to-day administration of the Agency, and may, subject to this Act, make decisions and exercise all powers and do all acts which may be exercised or done by the Agency.
(4)
The Managing Director shall be answerable to the Board for his acts and decisions.
(5)
In the event of the absence or inability to act of the Managing
Director, His Majesty the Sultan and Yang Di-Pertuan may appoint a director, or an officer of the Agency who holds the office of assistant managing director or its equivalent or above, to discharge his duties during the period of such absence or inability:
Provided that the person duly appointed to act for the office of the
Managing Director, unless he is a director appointed under section 5, does
Brunei Investment Agency
B.L.R.O. 1/2019 11
not have an absolute right to any privilege which the Managing Director may be entitled.