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ACT IX OF 1996 ACT IX OF 1996 BANK OF KHYBER (AMENDMENT) ACT, 1996 An Act to amend the Bank of Khyber Act, 1996 [Gazette of N.-W.F.P., Extraordinary, 28th July, 1996] No.PA/N.-W.F.P/Legis/96/12579, dated 28-7-1996.---The Bank of Khyber (Amendment) Bill, 1996, having been passed by the Provincial Assembly of the North-West Frontier Province on the 30th June, 1996 and assented to by the Governor of the North-West Frontier Province on the 15th July, 1996, is hereby published as an Act of the Provincial Legislature of North West Frontier Province. 4. Amendment of section 11 of N.-W.F.P. Act XIV of 1991.--In the said Act, in section 11,-- (i) for the word "eight" the word "nine" shall be substituted; (ii) for clause (a) the following shall be substituted, namely "(a) four-Directors, including the Director of foreign/local institutions nominated by them by virtue of their voting right, shall be elected in a special meeting of shareholders within three months of the allotment of share floatation in the stock market;" (iii) for clause (c), the following shall be substituted, namely:-- "(c) the ninth Director shall be the.. Managing Director of the Bank."; and (iv) after clause (c), as so substituted, the following new subsection (2) shall be added, namely: "(2) The election of Directors after share floatation in the stock market shall be conducted in accordance with the bye-laws made under section 24."