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ORDINANCE IX OF 1997 ORDINANCE IX OF 1997 BANKING COMPANIES (AMENDMENT) ORDINANCE, 1997 An Ordinance further to amend the Banking Companies Ordinance, 1962 [Gazette of Pakistan, Extraordinary, Part I, 21st January, 1997] No.F.2(1)/97‑Pub., dated 21‑1‑1997.‑‑‑The following Ordinance made by the President is hereby published for general information: Whereas it is expedient further to amend the Banking Companies Ordinance, 1962 (LVII of 1962), for the purposes hereinafter appearing; And whereas the National Assembly is not in session and the President is satisfied that circumstances exist which render it necessary to take immediate action; Now, therefore, in exercise of the powers conferred by clause (1) of Article 89 of the Constitution of the Islamic Republic of Pakistan, the President is pleased to make and promulgate the following Ordinance, namely:‑‑ 8. Amendment of section 40, Ordinance LVII of 1962.‑‑In the said Ordinance, in section 40,‑‑‑ (a) for the 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.