Section 10
of National Bank of Brunei; National Finance Sendirian Berhad Act
Section 10
(1)
Upon commencement, all rights attaching to all shares or stock in the issued share capital of each of the Bank and its subsidiaries and the Finance
Company shall be suspended until such time as the Controller orders the termination of such suspension.
(2)
If, after commencement, a person other than the
Controller would, apart from pursuant to this Act, have-
(a)
a right to require the issue of, or to subscribe for or purchase, or otherwise acquire, any shares or stock in the capital of the Bank or the Finance
Company; or
(b)
a right to appoint any person, or to be appointed, as a director or other officer of the Bank or the Finance Company; or
(c)
a right, whether express or implied, to exercise, whether wholly or in part, any power of control or direction of the Bank or the Finance Company, its management, property, assets or undertaking, that right shall cease except to the extent directed by the
Controller, provided that the cessation of a right of the type referred to in paragraph (a) shall in no way affect an obligation to subscribe for or purchase shares or stock referred to therein.