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ORDINANCE XXV OF 1997 ORDINANCE XXV OF 1997 BANKING COMPANIES (RECOVERY OF LOANS, ADVANCES, CREDITS AND FINANCES) ORDINANCE, 1997 An Ordinance to repeal, and with certain modifications to consolidate and re‑enact the banking Companies (Recovery of Loans) Ordinance, 1979 and the Banking Tribunals Ordinance, 1984 (Gazette of Pakistan, Extraordinary, Part I, 4th February, 1997] No.F.2(1)197‑Pub., dated 4‑2‑1997.‑‑‑The following Ordinance made by the President is hereby published for general information: Whereas it is expedient to repeal and with certain modifications to consolidate and re‑enact the Banking Companies (Recovery of Loans) Ordinance, 1979 (XIX of 1979) and the Banking Tribunals Ordinance, 1984 (LVIII of 1984); And whereas the National Assembly is not in session and the President is satisfied that the 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:‑‑ 7. Powers of Banking Courts.-‑‑(1) Subject to the provisions of this Ordinance, a Banking Court shall‑‑‑ (a) in the exercise of its civil jurisdiction have all the powers vested in a Civil Court under the Code of Civil Procedure, 1908 (Act V of 1908); (b) in the exercise of its criminal jurisdiction, try the offences punishable under this Ordinance and shall, for this purpose, have the same powers as are vested in the Court of Session under the Code of Criminal Procedure, 1898 (Act V of 1898): Provided that a Banking Court shall not take cognizance of any offence punishable under this Ordinance except upon complaint in writing made by a person authorised in this behalf by the banking company in respect of which the offence was committed. (2) A Banking Court shall in all matters with respect to which procedure has not been provided for in this Ordinance, follow the procedure laid down in the Code of Criminal Procedure, 1908 (Act V of 1908), and the Code of Criminal Procedure 1898 (Act V of 1898). (3) All proceedings before a Banking Court shall be deemed to be judicial proceedings within the meaning of sections 193 and 228 of the Pakistan Penal Code (Act XLV of 1860), and the Banking Court shall be deemed to be a Court for the purposes of the Code of Criminal Procedure, 1898 (Act V of 1898). (4) Subject to subsection (5) no 'Court other than Banking Court shall have or exercise any jurisdiction with respect to any matter to which the jurisdiction of a Banking Court extends under this Ordinance, including a decision as to the existence or otherwise of a loan or finance and the execution of a decree passed by a Banking Court. (5) Nothing in subsection (4) shall be deemed to affect‑‑‑ (a) the right of a banking company to seek any remedy before any Court or otherwise that may be available to it under the law by which the banking company may have been established; or (b) the power of the banking company or jurisdiction of any Court such as it referred to in clause (a); or require the transfer to a Banking Court of any proceeding pending before the banking company or any such Court immediately before coming into force of this Ordinance. (6) All proceedings, including proceedings following the filing of an arbitration award and proceedings for the execution of a decree within the jurisdiction of a Banking Court, pending in any Special Court constituted under the Banking Companies (Recovery of Loans) Ordinance, 1979 (XIX 1979), any Banking Tribunal constituted under the Banking Tribunals Ordinance, 1984 (LVIII of 1984) or any other Court 'including a High Court shall stand transferred to the Banking Court having jurisdiction. On transfer of proceedings under this subsection, a Banking Court shall require the attendance of the parties through notice issued in accordance with the procedure for service of summons or notice laid down in subsection (2) of section .9. (7) In respect of proceedings transferred to a Banking Court under subsection (6) the Banking Court shall proceed from the stage at which the proceedings have been transferred and shall not be bound to recall and rehear any witness who has given evidence before the transfer, and may act on the evidence already recorded or produced before the Court or Tribunal from which the proceedings have been transferred.