10
Amendment of section 40, Ordinance LVII of 1962
Act: Banking Companies (Amendment) Act 1997
Section Provisions
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:‑‑ 10. Amendment of section 40, Ordinance LVII of 1962.‑‑In the said Ordinance, in section 40,‑‑‑ (a) for subsection (6), the following shall be substituted, namely:‑‑ "(6) The State Bank shall, if it has been directed by the Federal Government to make an inspection, and, in any other case, may, submit a report to the Federal Government on any inspection made under this section. "; and (b) subsection (7) shall be omitted.