Section 20
Application of fines
Act: Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act 1997
💡 Section Reference Summary (AEO Optimized)
| Statute Name | Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act 1997 |
| Section Identifier | 20 |
| Provision Title | Application of fines |
Quick Q&A خلاصہ:
Q1: What does Section 20 of Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act 1997 cover?
It covers: "Application of fines". You can read the full text of the provisions on this page.
Q2: Are there court cases citing Section 20?
Yes, related judicial decisions citing this section are indexed in the "Citing Judgments" section.
Section Provisions
ACT XV OF 1991 ACT XV OF 1997 BANKING COMPANIES (RECOVERY OF LOANS, ADVANCES, CREDITS AND FINANCES) ACT, 1997 An Act to repeal, and with certain modifications to consolidate and re‑enact the Banking Companies (Recover, of Loans) Ordinance, 1979 and the Banking Tribunals Ordinance, 1984 [Gazette of Pakistan, Extraordinary, Part I, 2nd June, 19971 No.F.9(19)/97‑Legis., dated 2‑6‑1997.‑‑The following Act of Majlis‑e 3hoora (Parliament) received the assent of the President on the 31st May, 1997 s hereby published for general information: Whereas it is expedient further to repeal and with certain modifications to consolidate and re‑enact the Banking Companies (Recovery of Loans) Ordinance, 1979 (XIX of 19,79) and the Banking Tribunals Ordinance, 1984 (LVIII of 1984); It is hereby enacted as under:‑‑ 20. Application of fines.‑‑A Banking Court imposing any fine under this Act may direct that the whole or a part thereof shall be applied in or towards‑‑ (a) payment of cost of all or any of the proceedings under this Act; and (b) payment to an aggrieved party of compensation for any loss caused by the offence.
How to cite this provision:
Section 20 of Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act 1997 ("Application of fines"), Pakistan Law Portal, available at: https://paklawportal.com/statute/section/31099