Section 19

open and operate securities and cash clearing accounts and place deposits on such terms as it may decide;

purchase, acquire by exchange or other means, hold, sell or otherwise dispose of various types of investment assets as shall be specifically authorised by this Act or by the Minister responsible for finance on the recommendations of the Board;

accept money on deposits from customers, lend or borrow money, establish credits and give guarantees in any currency inside and outside Brunei Darussalam on such terms and conditions as it may deem fit;

open and operate accounts with central banks outside

Brunei Darussalam;

purchase, acquire or develop inside or outside

Brunei Darussalam facilities for accounting for and reporting on the assets and liabilities of the Perbadanan TAIB and any other assets or liabilities vested in the Perbadanan TAIB;

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CAP. 163 19

enter into contracts with third parties inside or outside

Brunei Darussalam for the purposes set forth in section 21;

underwrite loans and securities in which it may invest;

undertake the issue and management of loans publicly issued by the Government or by any public authority;

pay the expenses of the Perbadanan TAIB, including specifically any payment contemplated by sections 5(7), 8, 13(3),

14(6) and 21(b) out of the assets of the Perbadanan TAIB; and

do generally all such things as may be commonly done by investment managers and are not inconsistent with the exercise of its powers or the discharge of its duties under this Act.

gold coin or bullion and other precious metals;

real property and interests therein;

notes, coin, bank balances and money at call in such country or countries as may be approved by the Board;

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treasury bills of such government or governments as may be approved by the Board;

securities of or guaranteed by such government or governments or international financial institutions as may be approved by the Board;

such other classes of investment assets as may be authorised by the Board from time to time and set forth in a written investment guideline to the Perbadanan TAIB; and

such other specific investments not otherwise authorised hereunder as may be authorised by the Minister for finance on the recommendation of the Board.

Representatives 21.

In the exercise of its powers and the performance of its functions under this Act, the Perbadanan TAIB may —

establish offices and representatives at such places outside

Brunei Darussalam as it thinks fit;

arrange or contract with and authorise a person or persons, which may be individuals or corporate entities, to act as agent or representative of the Perbadanan TAIB inside or outside

Brunei Darussalam, including the performance of investment management, legal, auditing and measurement of investment performance activities on behalf of the Perbadanan TAIB, and in conjunction with the performance of such activities, such agents or representatives may be paid fees for services rendered and may be reimbursed by the Perbadanan TAIB for out-of-pocket expenses.

Establishment of funds [S 18/2022]