25

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 25. Pre operational steps necessary for establishment of the Bank. Government may appoint a suitable senior professional banker having the same qualifications as those prescribed for a Managing Director to initiate pre operational work to ensure prompt commencement of business by the Bank. Such appointed person shall be designated as the first Managing Director and will have full powers to appoint qualified supporting staff on merits and on such terms and conditions as those generally prevailing in the banking business in Pakistan. All such appointments and terms and conditions shall be purely temporary and subject to confirmation/regularization in accordance with the provisions of this Act or the bye laws framed thereunder.