The Industrial Development Corporation Ordinance, 1962

( Ordinance NO. XXXVII OF 1962 )

[ 4th June, 1962 ]
An Ordinance to establish an Industrial Development Corporation for 1[Bangladesh].

 
 
 
WHEREAS it is expedient to provide for the establishment of an Industrial Development Corporation for the purpose of promoting the economic and industrial development of [Bangladesh] and for matters ancillary thereto;
 
 
 
 
NOW, THEREFORE, in pursuance of the Proclamation of the seventh day of October, 1958, and in exercise of all powers enabling him in that behalf, the President is pleased to make and promulgate the following Ordinance:-
 
 
 

CONTENTS

SECTIONS

1. Short title, extent and commencement

2. Definitions

3. Establishment of the Corporation and its offices

4. Share Capital

5. Management

6. Appointment and term of office of Directors

7. Chairman

8. Tenure of the Chairman and Directors

9. Disqualification of Directors

10. Appointment of officers

11. Declaration of fidelity and secrecy

12. Meetings of the Board

13. Forwarding of statements, etc., to the Government

14. Delegation of Powers

15. Business which the Corporation shall transact

16. Annual Budget Statement

17. Custody and investment of Corporation Funds

18. Maintenance of accounts

19. Audit

20. Annual Report

21. Indemnity of Directors

22. Public servants

23. Power to make rules

24. Power to make regulations

25. Power to amend the Schedule

26. Winding up of the Corporation

Schedule

SCHEDULE