10

Act No Act No. XXII of 1948 Banking Companies (Control) Act. 1948. An Act to Provide for the control of banking companies by the State Bank of Pakistan, Whereas it is expedient to provide for the control of banking companies by the State Bank of Pakistan ; It is hereby enacted as follows : 10. Submission of monthly returns and information.-(1) Every banking company shall, before the close of the month succeeding that to which the return relates, submit to the State Bank a return in the prescribed form and manner showing particulars of its assets and liabilities in the Provinces as they stood at the close of business on the last Friday of -the month to which the return ,t-elates, or if that Friday is a public holiday under the Negotiable Instruments Act, XVI of 1881, at the close of business on the preceding working_ day. (2) Every banking company shall also submit to the State Bank information every half year regarding the classification of the advances and investments of such banking company in respect of industry, commerce and agriculture, if the State Bank so desires.