Section 2

accepts deposits of funds or other assets;

allows withdrawals or transfers of funds or other assets; or

pays negotiable or transferable instruments or orders drawn on, or collects negotiable or transferable instruments or payment orders on behalf of, any other person, and includes any facility or arrangement for a safety deposit box or for any other form of safe deposit;

“appeal” includes proceedings by way of discharging or setting aside a judgment, and an application for a new trial or for a stay of execution;

“assets-sharing agreement” means an agreement entered into –

between Brunei Darussalam and a foreign country or territory; or

Incorporating amendments until S 22/2017

(Cleancopy) NHN/Amiriah/Bb/Karimah as of 26.12.2019

*Note: amendment on page 7,75,81,123 on 11.01.2020

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BLUV as at 11th March 2017

between the Attorney General and the appropriate authority of a foreign country, whereby arrangements are made for the sharing of the proceeds of crime that, as a result of mutual assistance, have been confiscated in Brunei Darussalam or elsewhere;

“associate”, in relation to a person, includes –

any person who had been or is residing in the residential premises

(including appurtenances) of such person;

any person who had been or is an agent or nominee of such person;

any person who had been or is managing the affairs or keeping the accounts of such person;

any partnership firm of which such person, or any agent or nominee of his, is or had been a partner or a person in charge or control of its business or affairs;

any company formed and registered under the Companies Act

(Chapter 39), of which such person, or any agent or nominee of his, had been or is a director or had been or is in charge of or control of its business or affairs, or in which such person, together with any agent or nominee of his, has or have, or had, shares to the total value of not less than ten per centum of the total issued capital of the corporation;

any person who had been or is a partner, or a person in charge or control of the business or affairs, of a partnership firm referred to in paragraph (d) at any time when such person, or any agent or nominee of his, had been or is a partner in the partnership firm;

any person who had been or is a director, or a person in charge or control of the business or affairs, of a company referred to in paragraph (e) at any time when such person, or any agent or nominee of his, had been or is a director, or had been or is in charge or control of the business or affairs, of the corporation, or at any time when such person, together with any agent or nominee of his, has or have, or had, shares to the total value of not less than ten per centum of the total issued capital of the corporation;

any person who had been or is an agent of any partnership firm or company referred to in paragraph (d) or (e) respectively;

Incorporating amendments until S 22/2017

(Cleancopy) NHN/Amiriah/Bb/Karimah as of 26.12.2019

*Note: amendment on page 7,75,81,123 on 11.01.2020

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BLUV as at 11th March 2017

any person who had been or is keeping the accounts of any partnership firm or company referred to in paragraph (d) or (e) respectively;

the trustee of any trust, where –

the trust has been created by such person; or

any person who has in his possession any property belonging to such person; and

any person who is indebted to such person;

“authorised officer” means –

an officer of the Royal Brunei Police Force;

an officer of the Narcotics Control Bureau;

an officer of the Anti-Corruption Bureau;

an officer of the Royal Customs and Excise Department; or

a person or class of persons designated by notification in the Gazette by the Attorney General;

“Authority” means the Autoriti Monetari Brunei Darussalam established by section 3(1) of the Autoriti Monetari Brunei Darussalam Order, 2010 (S 103/2010);

“a benefit” includes any property, service or advantage, whether direct or indirect;

“beneficial owner” means –

a natural person who ultimately owns or controls the rights to and/or benefits from property, including the person on whose behalf a transaction is conducted;

a person who exercises ultimate effective control over a legal person or legal arrangement;

Incorporating amendments until S 22/2017

(Cleancopy) NHN/Amiriah/Bb/Karimah as of 26.12.2019

*Note: amendment on page 7,75,81,123 on 11.01.2020

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BLUV as at 11th March 2017

a natural person is deemed to ultimately own or control rights to or benefit from property within the meaning of subsection (a) when that person –

owns or controls, directly or indirectly, including through trusts or bearer share holdings for any legal entity, 25 per cent or more of the shares or voting rights of the entity; or

opening or maintenance of an account;

undertaking transactions by the financial institution or designated non-financial business and profession for that person;

the issuance of an insurance policy or takaful policy by an insurance or takaful operator to that person;

“cash transaction report” means a report required to be made under section 16;

“correspondent banking” means the provision of banking, payment and other services by one bank (the “correspondent bank”) to another bank (the “respondent bank”) to enable the latter to provide services and products to its own customers;

“Criminal Assets Confiscation Fund” means the Fund established by section 123;

“customer” means any of the following –

the person for whom a transaction or account is arranged, opened or undertaken;

Incorporating amendments until S 22/2017

(Cleancopy) NHN/Amiriah/Bb/Karimah as of 26.12.2019

*Note: amendment on page 7,75,81,123 on 11.01.2020

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BLUV as at 11th March 2017

a signatory to a transaction or account;

any person to whom an account or rights or obligations under a transaction have been assigned or transferred;

any person who is authorised to conduct a transaction or control an account;

any person who attempts to take any of the actions referred to above;

such other person as may be prescribed by regulations by the Authority;

“data” means representations, in any form, of information;

“dealing” includes –

a purchase, sale, loan, charge, mortgage, lien, pledge, caveat, transfer, delivery, assignment, subrogation, transmission, gift, donation, trust, settlement, deposit, withdrawal, transfer between accounts, extension of credit;

any purchase or sale of any securities, monetary instrument, or other instrument whatsoever by whatever means effected;

any agency or grant of power of attorney; and

any other disposition or dealing in whatever form, or of whatever description or nature, howsoever styled, which results in any right, interest, title or privilege, whether present or future or whether vested or contingent, in the whole or part of any property being conferred on any person;

“defendant” means a person that is under investigation for a serious offence or has been charged with a serious offence, whether or not he has been convicted of the offence, and includes in the case of proceedings for a restraining order under section 49, a person who is being investigated for a serious offence or is about to be charged with a serious offence;

“designated non-financial businesses and professions” means any of the following –

any person licensed under the Registered Agents and Trustees Licensing

Order, 2000 (S 54/2000);

real estate agents;

Incorporating amendments until S 22/2017

(Cleancopy) NHN/Amiriah/Bb/Karimah as of 26.12.2019

*Note: amendment on page 7,75,81,123 on 11.01.2020

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BLUV as at 11th March 2017

casinos, including internet casinos;

dealers in precious metals, precious stones and jewelry;

advocates and solicitors, notaries, other independent legal professionals and accountants when they prepare for, engage in, or carry out transactions for a client concerning any of the following activities –

purchase and sale of real estate;

creation, operation or management of entities or arrangements, and purchase and sale of business entities;

trust and company service providers not otherwise covered by this Order which, as business, prepare for or carry out transactions on behalf of clients in relation to any of the following services to third parties –

acting as a formation, registration or management agent of entities;

acting as, or arranging for another person to act as, a nominee shareholder for another person;

such other businesses and professions as may be specified by the

Authority;

Incorporating amendments until S 22/2017

(Cleancopy) NHN/Amiriah/Bb/Karimah as of 26.12.2019

*Note: amendment on page 7,75,81,123 on 11.01.2020

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BLUV as at 11th March 2017

“diminished in value”, in relation to any property, means the whole or part of the property being expended, utilised, destroyed, or being subjected to any dealing, process or other act, so that it ceases to exist, or is reduced in value or size, or is altered in character;

“document” means any matter expressed, described or howsoever represented upon any substance, material, thing or article, including any matter embodied in a disc, tape, film, soundtrack or other device whatsoever by means of –

letters, figures, marks, symbols, signals or other forms of expression, description or representation whatsoever;

any visual recording (whether of still or moving images);

any sound recording or any electronic, magnetic, mechanical or other recording, whatsoever and howsoever made, or any sound, electrical impulse or other data whatsoever;

a recording or transmission of the means mentioned in paragraph (a), (b)

or (c) or by more than one of the means mentioned in paragraph (a), (b), (c) or (d), intended to be used or which may be used for the purpose of expressing, describing or howsoever representing that matter;

Illustrations

A writing is a document.

Words printed lithographed or photographed are documents.

A map, plan, graph or sketch is a document.

An inscription on wood, metal, stone or any other substance, material or thing is a document.

A photograph or a negative is a document.

Incorporating amendments until S 22/2017

(Cleancopy) NHN/Amiriah/Bb/Karimah as of 26.12.2019

*Note: amendment on page 7,75,81,123 on 11.01.2020

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BLUV as at 11th March 2017

A tape recording of a telephonic communication, including a recording of such communication transmitted over distance is a document.

A photographic or other visual recording, including a recording of photographic or other visual transmission over a distance is a document.

A matter recorded, stored, processed, retrieved or produced by a computer is a document.

“FATF” means the Financial Action Task Force;

“financial institution” means –

in relation to Brunei Darussalam –

a bank licensed under section 4 or 23 of the Banking Order, 2006

(S 45/2006), an international bank licensed under section 7 of the

International Banking Order, 2000 (S 53/2000) and an Islamic bank licensed under section 4 or 23 of the Islamic Banking

Order, 2008 (S 96/2008);

any person licensed under the Mutual Funds Order, 2001

(S 18/2001), the Securities Order, 2001 (S 31/2001) or the

International Insurance and Takaful Order, 2002 (S 43/2002);

Incorporating amendments until S 22/2017

(Cleancopy) NHN/Amiriah/Bb/Karimah as of 26.12.2019

*Note: amendment on page 7,75,81,123 on 11.01.2020

9

BLUV as at 11th March 2017

in relation to any country outside Brunei Darussalam, a person lawfully carrying on therein business corresponding in whole or in part to banking business as defined in section 2(1) of the Banking Order, 2006 (S 45/2006) or in section 2(1) of the

International Banking Order, 2000 (S 53/2000); and includes Islamic banking business as defined in section 2(1) of the Islamic Banking Order, 2008 (S 96/2008);

“Financial Intelligence Unit” means the agency responsible for receiving, requesting, analysing and disseminating information concerning money-laundering, suspected proceeds of crime and terrorist financing;

“foreign country” means any country or territory outside Brunei Darussalam;

“foreign serious offence”, has the same meaning as “serious offence”;

“Fund” has the same meaning as Criminal Confiscation of Assets Fund established by section 123;

“funds transfer” means any transaction carried out on behalf of an originator person through a financial institution by electronic means with a view to making an amount of money available to a beneficiary person at another financial institution. The originator and beneficiary may be the same person;

“gift” includes any transfer or property by a person to another person directly or indirectly –

after the commission of a serious offence by the first person;

for a consideration the value of which is significantly less than the value of the property provided by the first person; and

Incorporating amendments until S 22/2017

(Cleancopy) NHN/Amiriah/Bb/Karimah as of 26.12.2019

*Note: amendment on page 7,75,81,123 on 11.01.2020

10

BLUV as at 11th March 2017

to the extent of the difference between the market value of the property transferred and the consideration provided by the transferee;

“Government” means the Government of Brunei Darussalam;

“High Court” includes the Intermediate Court;

“legal arrangement” refers to express trusts or other similar legal arrangements;

“interest”, in relation to property, means –

a legal or equitable estate or interest in the property; or

a right, power or privilege in connection with the property whether present or future and whether vested or contingent;

“Minister” means the Minister of Finance;

“originator” means the account holder, or where there is no account, the person that places the order with a financial institution to perform a wire transfer;

“payable through account” means a correspondent account used directly by a third party customer of the respondent financial institution to transact business on such party’s own behalf or on behalf of another person;

“person” means any natural or legal person;

“politically-exposed person” means –

any person who is or has been entrusted with a prominent public function including, but not limited to a head of state or of government, a senior politician, a senior government, judicial or military official;

any vehicle, vessel, craft, aircraft or any structure in the coastal waters of Brunei Darussalam; or

any tent, caravan or other moveable structure;

“prescribed amount” means $15,000 (or its equivalent in a foreign currency) or such other amount as the Authority may, by notification in the Gazette specify;

“proceedings” means any procedure conducted by or under the supervision of a judge, magistrate or judicial officer however described, in relation to any alleged or proven offence or property derived from such offence and including an inquiry, investigation and preliminary or final determination of facts;

“proceeds of crime” means –

any property or benefit derived or realised directly or indirectly from a serious offence;

any property or benefit derived or realised from a disposal or other dealing with proceeds of a serious offence, and includes, on a proportional basis, property into which any property derived or realised directly from the offence was later successively converted, transformed or intermingled, as well as income, capital or other economic gains derived or realised from such property at any time since the offence; and any property used or intended to be used in the commission of any serious offence;

Incorporating amendments until S 22/2017

(Cleancopy) NHN/Amiriah/Bb/Karimah as of 26.12.2019

*Note: amendment on page 7,75,81,123 on 11.01.2020

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BLUV as at 11th March 2017

“property” means –

assets of every kind, whether tangible or intangible, movable or immovable, however acquired;

any right, interest, title, claim, chose in action, power, privilege, whether present or future and whether vested or contingent, in relation to any property, or which is otherwise of value;

any conveyance executed for conveying, assigning, appointing, surrendering, or otherwise transferring or disposing of immovable property whereof the person executing the conveyance is proprietor or possessed or wherein he is entitled to a contingent right, either for his whole interest or for any less interest;

legal documents or instruments in any form, including electronic or digital, evidencing title to, or interest in, such assets, including, but not limited to, bank credits, travelers cheques, bank cheques, money orders, shares, securities, bonds, drafts and letters of credit;

any business;

“property of or in the possession or control of a person” includes any gift made by that person;

“public body” includes –

the Government;

any local authority and any other statutory authority established by, and exercising powers vested in it by, any written law;

any department, service or undertaking of the Government, a local authority, other statutory authority, or of any authority, organisation, body or individual specified under paragraph (d); or

any authority, organisation or body, or any individual referred to by name or office, specified by the Minister by notification in the Gazette to be a public body for the purposes of this Order;

“public officer” includes any person in the permanent or temporary employment of a public body;

Incorporating amendments until S 22/2017

(Cleancopy) NHN/Amiriah/Bb/Karimah as of 26.12.2019

*Note: amendment on page 7,75,81,123 on 11.01.2020

13

BLUV as at 11th March 2017

“realisable property” means –

any property held by a person;

any property effectively controlled by that person;

any property held by another person to whom that person has directly or indirectly made a gift caught by this Order;

“relative”, in relation to a person, means –

spouse of the person;

brother or sister of the person;

brother or sister of the spouse of the person;

any lineal ascendant or descendant of the person;

any lineal ascendant or descendant of the spouse of the person;

spouse of a person referred to in paragraph (b), (c), (d) or (e);

any lineal descendant of a person referred to in paragraph (b) or (c);

brother or sister or spouse of the brother or sister of any lineal ascendant of the person or his spouse; or

any lineal descendant or spouse of any lineal descendant of a person referred to in paragraph (h);

“serious offence” means an offence against a provision of –

any written law of Brunei Darussalam for which the maximum penalty is death, imprisonment for a term of not less than 6 months, fine of not less than $1,000

or more severe penalty;

a written law of a foreign country, in relation to acts or omissions which, had they occurred in Brunei Darussalam, would have constituted an offence for which the maximum penalty is imprisonment for a term of not less than 6 months or more severe penalty including an offence of a purely fiscal character;

“shell bank” means a bank that has no physical presence in the country in which it is incorporated and licensed, unless such bank is wholly owned by one or more financial institutions forming part of a regulated financial services group that is subject to effective consolidated supervision;

Incorporating amendments until S 22/2017

(Cleancopy) NHN/Amiriah/Bb/Karimah as of 26.12.2019

*Note: amendment on page 7,75,81,123 on 11.01.2020

14

BLUV as at 11th March 2017

“suspicious transaction report” means a report required to be made under section 15;

“tainted property” in relation to a serious offence, means –

property used in or in connection with or intended for use or in connection with the commission of the offence, if it was in the person’s possession at the time of, or immediately after, the commission of the offence;

property derived, obtained or realised as a result of or in connection with the commission of an offence if it was acquired by the person before, during or within a reasonable time after the period of the commission of the offence of which the person is about to be charged, charged or convicted;

proceeds of crimes;

that the income of that person from sources unrelated to criminal activity of that person cannot reasonably account for the acquisition of that property; and

tainted property includes property of a corresponding value to property defined in paragraphs (a), (b), (c) and (d); or

property which, due to any circumstance such as, but not limited to, its nature, value, location or place of discovery, or the time, manner or place of its acquisition, or the person from whom it was acquired, or its proximity to other property referred to in the foregoing paragraphs, can be reasonably believed to be property falling within the scope of paragraph (a), (b), (c) or (d);

“transaction” means a purchase, sale, loan, pledge, gift, transfer, delivery or other disposition, or the arrangement thereof, and includes but is not limited to –

opening of an account;

any deposit, withdrawal, exchange or transfer of funds in any currency whether in cash or by cheque, payment order or other instrument or by electronic or other non-physical means;

the use of a safety deposit box or any other form of safe deposit;

entering into any fiduciary relationship;

any payment made or received in satisfaction, in whole or in part, of any contractual or other legal obligation;

any payment made in respect of a lottery, bet or other game of chance;

Incorporating amendments until S 22/2017

(Cleancopy) NHN/Amiriah/Bb/Karimah as of 26.12.2019

*Note: amendment on page 7,75,81,123 on 11.01.2020

15

BLUV as at 11th March 2017

establishing or creating a legal person or legal arrangement; and

such other transaction as may be prescribed by the Minister or Authority, as the case may be, by regulations;

“terrorism financing offence” means –

any offence under section 4, 5, 6, 7 or 8 of the Anti-Terrorism Order,

2011 (S 45/2011);

conspiracy to commit any of those offences;

inciting another to commit any of those offences;

attempting to commit any of those offences; or

aiding, abetting, counselling or procuring the commission of any of those offences;

“trust” includes any legal obligation in favour of any beneficiary subject to which any person holds any property;

“unlawful activity” means –