Section 3
of Perbadanan Tabung Amanah Islam Brunei Act
Section 3
(1)
There is hereby established a body corporate called the
“Perbadanan Tabung Amanah Islam Brunei” (Perbadanan TAIB)
which shall have perpetual succession and may sue and be sued in that name.
(b)
Subject to and for the purposes of this Act, the
Perbadanan TAIB may enter into contracts and may acquire, purchase, take, hold and enjoy movable and immovable property of every description and may convey, assign, surrender, yield up, charge, mortgage, demise, reassign, transfer or otherwise dispose of, or deal with, any movable or immovable property or any interest therein vested in the Perbadanan TAIB upon such terms as it deems fit.
(2)
The Perbadanan TAIB shall have a common seal and such seal may, from time to time, be broken, changed, altered and made anew as it deems fit, and, until a seal is provided under this section, a stamp bearing the inscription “Perbadanan Tabung Amanah Islam Brunei” may be used as the common seal.
(3)
All deeds, documents and other instruments requiring the seal of the Perbadanan TAIB shall be —
(a)
sealed with the common seal of the Perbadanan TAIB by the authority of the Perbadanan TAIB in the presence of the
Perbadanan Tabung Amanah Islam Brunei
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Managing Director and of some other person duly authorised in writing by the Perbadanan TAIB to act in that behalf; and
(b)
signed by the Managing Director and by such duly authorised person, and such signing shall, until the contrary is proved, be sufficient evidence that the common seal of the Perbadanan TAIB has been duly and properly affixed and that the seal is the lawful common seal of the Perbadanan TAIB.
(4)
The Perbadanan TAIB may, by resolution or otherwise, appoint an officer of the Perbadanan TAIB or any other agent, either generally or in a particular case, to execute or sign on behalf of the Perbadanan TAIB any agreement or other instrument not under seal in relation to any matter coming within the powers of the Perbadanan TAIB.
(5)
The common seal or the stamp under subsection (2) shall be kept in the custody of the Managing Director.
(6)
The common seal of the Perbadanan TAIB shall be officially and judicially noticed.