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ACT XIV OF 1997 document.onkeyup = Stopit; --> BANKING COMPANIES (AMENDMENT) ACT, 1997 ACT XIV OF 1997 [31st May 1997] An Act further to amend the Banking Companies Ordinance, 1962 [Gazette of Pakistan, Extraordinary, Part I, 2nd June, 1997[ No.F.9(19)/97‑Legis., dated 2‑6‑1997.‑‑The following Act of Majlis‑e- Shoora (Parliament) received the assent of the President on the 31st May, 1997, is hereby published for general information:‑‑ 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, for section 3A, the following shall be substituted, namely:‑‑ "3A. Limited application of Ordinance to certain financial institutions.‑‑(1) The provisions of sections 6, 25, 25‑A, 25‑AA, 29, 31, 32, 33, 10, 41, 41A, 41B, 41C, 41D, 42, 83, 84 and 94 of this Ordinance shall, with such modifications as the State Bank may determine from time to time in relation to activities which have implications for the monetary or credit policies of the State Bank, apply to the Investment Corporation of Pakistan, the National Investment Unit Trust, the Pakistan Industrial Credit and Investment Corporation, the House Building Finance Corporation, the National Development Finance Corporation, the Bankers Equity Limited, the Pak‑Libya Holding Company Limited, the Pakistan‑Kuwait Investment Company Limited, the Saudi‑Pak Industrial and Agricultural Investment Company Limited, the Small Business Finance Corporation, the Regional Development Finance Corporation, investment finance companies, venture capital companies, housing finance companies and such other companies, corporations or institutions or class of companies, corporations or institutions which carry on one or more of the businesses enumerated in section 7 of this Ordinance, save and except for leasing companies and Modaraba Companies, as the Federal Government may from time to time, by notification in the Official Gazette, specify in this behalf. (2) All notification's issued by the Federal Government which are inconsistent with the provisions of subsection (1) including such notifications in respect of the National Development Leasing Corporations, Leasing Companies and Modaraba Companies shall stand rescinded with immediate effect