The Bangladesh Small and Cottage Industries Corporation Act, 1957 (East Pakistan Act)

( ACT NO. XVII Of 1957 )

♣ An Act to establish a Corporation for the purpose of promoting the development of [small and cottage industries in Bangladesh].

 
 
 
WHEREAS it is expedient to establish a Corporation for the purpose of promoting the development of [small and cottage industries in Bangladesh];
 
 
 
 
It is hereby enacted as follows:-
 
 
 

CONTENTS

SECTIONS

1. Short title, extent and commencement

2. Interpretation

3. Establishment and incorporation of Corporation

4. Share capital and shareholders

5. Guarantee by Government

6. Management

7. Composition of Board

8. Term of office of Directors

9. Chairman

10. Finance Director

11. Disqualification of Directors

12. Vacancies etc. not to invalidate act or proceeding of the Board

13. Appointment of officers, etc.

14. [Omitted.]

15. Technical Advisory Committee

16. Restriction on disclosure of information

17. Meeting of the Board

18. [Omitted.]

19. Offices

20. Deposit accounts

21. Investment of funds

22. Borrowing power

23. Deposits

24. Functions of the Corporation

24A. Registration of small and cottage industries, etc.

24AA. Power of the Corporation to enter into agreements with financial institutions

25. [Omitted.]

26. Security for loans or subscriptions

26A. Exemption from taxes

27. Interest on loans

28. [Omitted.]

29. Power to impose conditions

30. Prohibited business

31. Loans in foreign currency

32. Power to demand immediate payment of the entire sum

33. Certification of sums recoverable

34. Special Provisions for enforcement of claims of the Corporation

35. Act XVIII of 1891 to apply to the books of the Corporation

36. Disposal of profit

37. General meetings

38. Audit

39. Returns

40. Liquidation of Corporation

41. Indemnity of Directors

42. Declaration of fidelity and secrecy

42A. Public servants

43. Provision relating to income-tax and super-tax

44. Offences

45. Power of Government to make rules

46. Power of the Board to make regulations

Schedule

SCHEDULE