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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 11. Constitution. (1) The Board shall consist of the following [Subs. for "eight", by N.‑W.F.P. Act, 9 of 1996, S. 4(i).] [nine] Directors:‑‑ [Subs. by N.‑W.F.P. Act, 9 of 19961, S. 4(ii).] [(a) four Director including the Director of foreign/local institutions nominated by them by virtue of their voting right, shall be elected in a special meeting of shareholders within three months of the allotment of share floatation in the stock market]. (b) four Directors appointed by Government, two of whom will be the Secretaries to Government of North‑West Frontier Province,, Finance Department and Industries Department. [ Subs. by N.‑W.F.P. Act, 9 or 1996, S.4(iii).][(c) the ninth Directors shall be the Managing Director of the Bank.] [ Added by N.‑W.F.P. Act, 9 of 199(1, S. 4(iv).] [(2) The election of Directors after share floatation in the stock market shall be conducted in accordance with the bye laws made under Section 24.]