Section 6
of National Bank of Brunei; National Finance Sendirian Berhad Act
Section 6
(1)
Each former officer and the former auditors shall
Liability of remain liable for all his or their acts and omissions in respect
~=:s and of the period prior to commencement.
auditors
(2)
. If it appears to the Controllerthat at any timeprior to commencement any business of either the Bank or the
Finance Company was carried on with intent to defraud any person or for any fraudulent purpose, the High Court, on the application of the Controller, may, if it thinks proper so to do, declare that any person who was knowingly party to the carrying on of business in the aforesaid manner shall be personally responsible, without any limitation of liability (a)
for all or any of the debts or other liabilities of the Bank or the
B.L.R.O.1/1999
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National Bank of Brunei Berhad;
National Finance Sendirian Berhad
Finance Company as the High Court may direct; and (b) to reimburse and indemnify each of the Bank and the Finance
Company for and against all losses suffered by it as a result thereof.
Freezingof accounts etc.
(3)
Any person who was knowingly party to the carrying on of business in the manner described in section 6(2)
shall also be guilty of an offence: Penalty, imprisonment for 10 years and a fine.