2. (1) Where any Bank having offices and branches in Bangladesh has its head office in Pakistan, formerly known as West Pakistan, the Government of Bangladesh may, notwithstanding anything contained in any law for the time being in force or in any instrument or document relating to the incorporation or registration of the Bank, by notification in the official Gazette, appoint an Administrator for the management and control of the affairs of the Bank in Bangladesh.
(2) Where an Administrator is appointed for any Bank under clause (1), the Board of Directors of the Bank shall cease to function in respect of the Bank in Bangladesh and all the powers and duties of the Board of Directors or, as the case may be, Local Board of the Bank of Bangladesh shall vest in the Administrator.
(3) The Administrator shall hold office for such period and on such terms and conditions as the Government of Bangladesh may specify.
(4) In addition to the powers and duties of the Board of Directors, an Administrator shall also have the powers and duties of the Chief Executive of the Bank in Bangladesh and shall be wholly responsible for the management of its affairs in Bangladesh.
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