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BANK OF KHYBER ACT, 1991 BANK OF KHYBER ACT, 1991 [ACT No. XIV of 1991] [Gazette of N.‑W.F.P. Extraordinary, 20th, June, 1991] An Act to establish the Bank of Khyber in the North‑West Frontier Province 5. Capital. (1) Subject to the provisions of this Act, the authorized capital of the ,Bank shall be one billion rupees divided into one hundred million ordinary shares of ten rupees each. [Words "Paid up capital of the Bank shall be rupees three hundred million.", deleted by N.‑W.F.P. Act, 9 of 1996, S. 3.][x x x] The share capital of the Bank shall comprise only of ordinary shares. It shall not issue partly paid shares. In the case of issue of shares for cash, the amount payable on application shall be the full nominal value of the shares even if the shares are issued at discount. (2) Out of the said capital there shall from time to time, be issued such number of shares and on such terms, including the terms of brokerage and under‑writing as the Board may decide. (3) The liability of the shareholders of the Bank shall be limited to the amount not fully paid up on their shares. (4) The majority of the shareholders of the Bank may by special resolution, increase or reduce the capital of the Bank. (5) The shares of the Bank shall be movable property and each share shall be distinguished by its appropriate number.