BANKING COMPANIES (AMENDMENT) ORDINANCE, 2000
An Ordinance further to amend the Banking Companies Ordinance, 1962
Gazette of Pakistan, Extraordinary,
12th September, 2000
No.F.2(l)/2000-Pub., dated 12-9-2000.-The following Ordinance made by the President is hereby published for general information:—
Whereas it is expedient further to amend the Banking Companies Ordinance, 1962 (L VII of 1962), for the purposes hereinafter appearing;
And whereas the National Assembly and the Senate stand suspended in pursuance of the Proclamation of emergency of the fourteenth day of October, 1999, and provisional constitution Order NO. 1 of 1999.
And whereas the President is satisfied that circumstances exist which render it necessary to take immediate action.
Now, there fore, in pursuance of the proclamation of emergency of the fourteenth day of October, 1999, and the provisional constitution order No. 1 of 1999, as well as order No. 9 of 1999, and in exercise of all powers enabling him in that behalf, the president of the Islamic Republic of Pakistan is pleased to make and promulgate the following Ordinance : —
1. Short Title and commencement. —
(i). This ordinance may be called the Banking Companies (Amendment) Ordinance, 2000.
(ii) It snail come into force.
2. Amendment of section 3A, Ordinance LVII of 1962,- In the Banking Companies Ordinance, 1962 (LVII of 1962), hereinafter referred to as the said Ordinance, in section 3A, in subsection (1), after the figure and comma "6," the figure and comma "13," shall be inserted.
3. Amendment of section 5, Ordinance LVII of 1962. – In the said Ordinance, in section 5, in clause (a), in sub-clause (i), for the brackets and figure "(3)" the brackets and figure "(2) shall be substituted.
4. Substitution of section 13, Ordinance, LVII of 1962.- In the said Ordinance, for section 13, the following shall be substituted, namely:–