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ORDINANCE XIX OF 1979 ORDINANCE XIX OF 1979 BANKING COMPANIES (RECOVERY OF LOANS) ORDINANCE, 1979 An Ordinance to repeat and with certain modifications, re‑Enact the Banking Companies (Recovery of Loans) Ordinance, 1978 [Gazette of Pakistan,, Extraordinary, Fart i, 27th March 1979] No. F.17 (1)/79‑Pub.‑The following Ordinance made by the President is hereby published for general information :‑ 2. Definitions.‑In this Ordinance, unless there is anything repugnant in the subject or context,‑ (a) "banking company" means a bank as defined in the Banks (Nationali sation) Act, 1974 (XIX of 1974), and includes, a banking company incorpo rated outside Pakistan and transacting banking business in Pakistan and a financial institution which the Federal Government may, by notification in the official Gazette declare to be a banking company for the purposes of this Ordinance, but does not include the State Bank of Pakistan; (b) "borrower" means a person who has obtained a loan from a bank ing company and includes a surety or an indemnifier; (c) "commencing day" means the day on which this Ordinance comes into force; (d) "loan" includes‑ (i) an advance, cash credit, overdraft, packing credit, a bill discounted and purchased or any other financial accommodation provided by a banking company to a borrower; (ii) a guarantee, indemnity, letter of credit or any other financial engagement which a banking company may give, issue or undertake on behalf of a borrower; (iii) a benami loan, that is, a loan the real beneficiary or recipient whereof is a person other than the person in whose name the loan is advanced or granted; (iv) any amount due from any borrower to a banking company under a decree passed by a civil Court or an award given by an arbitrator; and (v) any loan due from any borrower to a banking company which is the subject‑matter of any pending suit, appeal or revision before any Court; (e) "rule" means rule made under this Ordinance; and (f) "Special Court" means a Special Court established under