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The Bangladesh Shipping Corporation Order, 1972 (President's Order)

( PRESIDENT'S ORDER NO. 10 OF 1972 )

 
 
 
 
1[8. 2[(1) The Board of Directors shall consist of the following Directors, namely:-
 
 
 
 
(a) Minister-in-Charge of the Ministry or Division dealing with shipping, ex-officio, who shall also be its Chairman;
 
 
 
 
 
 
(b) Secretary of the Ministry or Division dealing with shipping, ex-officio;
 
 
 
 
(c) Joint Secretary (Statutory bodies wing), Finance Division, ex-officio;
 
 
 
 
(d) Managing Director of the Corporation, ex-officio;
 
 
 
 
(e) Executive Director (Finance) of the Corporation, ex-officio;
 
 
 
 
(f) Executive Director (Technical) of the Corporation, ex-officio;
 
 
 
 
(g) Executive Director (Commercial) of the Corporation, ex-officio;
 
 
 
 
(h) Shareholders elected under clause (2).]
 
 
 
 
(2) Where the Government permits public subscription, the public share-holders may elect-
 
 
 
 
(a) one Director, when the capital subscribed for by the public exceeds 20% but does not exceed 34% of the total shares subscribed;
 
 
 
 
(b) two Directors, when the capital subscribed for by the public exceeds 34% of the total shares subscribed;
 
 
 
 
(3) The Directors under clause (2) shall be elected in such manner as may be prescribed.
 
 
 
 
(4) A Director other than an ex-officio Director, shall hold office for a period of two years from the date of the notification of his election or, as the case may be, appointment:
 
 
 
 
Provided that notwithstanding the expiration of his term, a Director shall continue to hold office until his successor enters upon his office.]
 
 
 
 
3[* * *]

  • 1
    Article 8 was substituted for the former Articles 8 and 9 by section 3 of the Bangladesh Shipping Corporation (Amendment) Ordinance, 1983 (Ordinance No. XXIII of 1983)
  • 2
    Clause (1) was substituted by section 2 of the Bangladesh Shipping Corporation (Amendment) Act, 1990 (Act No. II of 1990)
  • 3
    Articles 8 was substituted for the previous Articles 8 and 9 by section 3 of the Bangladesh Shipping Corporation (Amendment) Ordinance, 1983 (Ordinance No. XXIII of 1983)
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