Section 65
of International Business Companies Order, 2000
Section 65
(1)
Subject to any relevant modification, the business and affairs of an IBC shall be managed by a board of directors consisting of one or more persons who may be individuals or bodies corporate, and subject to any relevant modification, no director or resident director shall be required to hold any shares in a company.
(2)
A registered agent shall, when requested in writing by an IBC so to do, make available an officer or wholly-owned subsidiary duly authorised under section 3(3) of the
Registered Agents and Trustees Licensing Order, 2000 for appointment as a resident director of an IBC.
(3)
No person shall act or be appointed as a resident director of an international company other than an officer or subsidiary of a registered agent made available for appointment by the registered agent pursuant to subsection (1).
(4)
A resident director shall be entitled to vote upon the resolution of the board of directors without disclosing his interest as director of any other international company.
(5)
A director or resident director or secretary or resident secretary of an IBC shall not disclose or use information he has obtained by reason of his office to any person or for any purpose except in accordance with his duty as a director or secretary of the company and so far as he may be compelled by law so to do. A director or resident director may without incurring liability disclose in confidence to the Authority only information coming to his knowledge which he honestly believes suggests that a breach of any written law of Brunei Darussalam
Incorporating amendments until S 53/2017
(Clean Vesion) NANI/zimah _ as of 11 February 2020
67
BLUV as at 20th June 2017
relating to drug-trafficking or money-laundering is being or is likely to be practiced by the company or by any of its members or directors or upon the company or any of its members.
(6)
The fees of a resident director or resident secretary payable by an IBC shall be paid to the registered agent which made available the officer or subsidiary for appointment in such manner and at such times as shall be agreed between the registered agent and the IBC.
Number of directors.