Section 40

Except with the prior approval in writing of the Authority, no insurer shall open a counter or branch office in Brunei Darussalam.

Subject to subsection (1), such insurer shall pay such fees as may be prescribed.

Any person who fails to comply with this section shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000.

Approval of proposed managing director, director, chief executive or principal officer of insurer.