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Amendment of section 8, Ordinance XIX of 1979
Act: Banking Companies (Recovery of Loans) (Amendment) Ordinance 1983
Section Provisions
ORDINANCE II OF 1983 ORDINANCE II OF 1983 BANKING COMPANIES (RECOVERY OF LOANS) (AMENDMENT) ORDINANCE, 1983 7. Amendment of section 8, Ordinance XIX of 1979.‑In the said Ordi nance, in section 8‑ (a) in subsection (2), for the word "decree", occurring for the second time, the words "the institution of the suit" shall be substituted; and (b) after subsection (2), amended, as aforesaid, the following new sub section shall be inserted, namely:‑ "(2‑A) A Special Court shall not, without the consent of the decree- holder, allow the decretal amount to be paid in such instalments as would extend the period of full recovery of the decretal amount beyond one year from the date of the decree.".