Section 10

The Authority shall not register any applicant under section 9, unless the applicant –

is a company as defined in the Companies Act (Chapter 39) or a company incorporated outside Brunei Darussalam which has an established place of business in Brunei Darussalam;

has a surplus of assets over liabilities of not less than such amount as may be prescribed; and;

has made the deposit under section 16.

Incorporating amendments until S 1/2016

(Clean copy) NANI/H.AFIF/fiqah _ as of 3rd July 2020

11

BLUV as at 14th January 2016

For the purpose of paragraph (b) of subsection (1), different amounts may be prescribed for different classes of insurance business or for different types of insurers.

Conditions of registration.