Section 133
of International Business Companies Order, 2000
Section 133
(1)
This Part applies to a foreign company only if it has a place of business or is carrying on international business in compliance with section 6 in Brunei Darussalam.
(2)
In this Part, the expression “carrying on business in Brunei Darussalam”
includes –
(a)
carrying on international business in, from or through Brunei
Darussalam;
(b)
establishing or using a share transfer or share registration office in
Brunei Darussalam or administering, managing or otherwise dealing with property situated in Brunei Darussalam as an agent, legal personal representative or trustee, whether by servants or agents or otherwise; and
Incorporating amendments until S 53/2017
(Clean Vesion) NANI/zimah _ as of 11 February 2020
112
BLUV as at 20th June 2017
(c)
in the case of a foreign international company which the Authority has by notice published in the Gazette specified for the purposes of this paragraph –
[S 130/2010]
(i)
permitting or suffering the company’s own shares to be, in
Brunei Darussalam, dealt with, issued, transferred or made the subject of options or·agreements;
(ii)
permitting or suffering to be made in Brunei Darussalam transfers of, or dealings in respect of, or agreements or options to sell or purchase, securities, notes or rights issued by it to the public; or
(iii)
permitting or suffering to be made in Brunei Darussalam transfers of, or dealings in respect of, or agreements or options to sell or purchase, securities, notes or rights, by reason of which transfers, dealings, agreements or options the public might acquire an interest in the company.
(3)
Notwithstanding subsection (1), a foreign international company shall not be regarded as carrying on business in Brunei Darussalam by reason only of the fact that in Brunei
Darussalam it –
(a)
is, or becomes, a party to any action or suit or any administrative or arbitration proceedings or any claim or dispute; or
(b)
conducts unsolicited isolated transactions that are completed within a period of thirty-one days, not being one of a number of similar transactions repeated more than twice.
Registration of foreign international companies.