Section 44
Section 44
(1)
Where the Controller is satisfied that owing to the changes in the external or internal position of any coun-try or territory, action is being or is likely to be taken to the detriment of the economic position of Brunei, the Control-ler may give general or special directions prohibiting, either absolutely or to such extent as may be specified in the direc-tions, the carrying out, except with permission granted by the Controller, of any order given by or on behalf of the government of that country or territory or any person resi-dent therein at the time when the directions were given or at any later time while such directions are in force in so far as the order-
(i)
requires the person to whom the order is given to make any payment or to part with any gold or securities; or
(ii)
requires any change to be made in the persons to whose credit any sum is to stand or to whose order any gold or securities are to be held.
(2)
Where any directions are given under this section with respect to any country or territory, a branch in that country or territory of any business, whether carried on by a body corporate or otherwise, shall, for the purposes of this section, be treated in all respects as if the branch were a body corporate resident in that country or territory.
Exchange Control
(3)
Subject to any exemption which may be granted by order of the Controller, no person shall, except with permission granted by the Controller or by a person autho-rised by him or his behalf, agree to do at any future time any act which, at the time of agreement, is unlawful by virtue of any directions given under this section.
47 45.
(1)
Stamp duty shall not be chargeable on any secur-Exemption ity by reason only of the assignment, transfer or negotiation ~~t~ stamp thereof to the Controller and shall not be chargeable -
(a)
on any instrument whereby any security is assigned or transferred to the Controller (whether on sale or otherwise); or
(b)
on any contract note for, or relating to, any sale of securities to the Controller.
(2)
This section applies, only in relation to assign-ments, transfers, negotiation or sales of securities effected during the continuance in force of this section whether in compliance with this Act or otherwise.
(3)
In this section the expression "contract note"
means the note sent by a broker or agent to his principal, or by any person who by way of business deals, or holds him-self out as dealing, as a principal in any stock or marketable securities, advising the principal, or the vendor or purchas-er, as the case may be, of the sale or purchase of any stock or marketable security, but does not include a note sent by a broker or agent to his principal where the principal is him-self acting as broker or agent for a principal and is himself a person who bona fide carries on the business of a stock-broker on any stock exchange approved by the Controller under the provisions of section 33.