Section 34
Prohibition of issuance of payment instruments
of Payment and Settlement Systems (Oversight) Act
(1)
The Authority may, with the approval of His Majesty the Sultan and Yang Di-Pertuan, by order published in the Gazette, prohibit any person from issuing or using any payment instrument if —
(a)
the issuing or use of the payment instrument is detrimental to the reliable, safe, efficient and smooth operation of the payment systems of Brunei Darussalam; or
(b)
the prohibition is in the interest of the public.
(2)
The Authority may, in considering whether to prohibit any person from issuing or using any payment instrument under subsection (1), inspect the premises, equipment, machinery, apparatus, books or other documents, or accounts and transactions of the issuer of the payment instrument, upon giving notice in writing to the issuer.
(3)
The Authority shall give the person referred to in subsection (1) a reasonable opportunity to make representation before making a decision to impose the prohibition under that subsection.