The Bangladesh Banks (Nationalisation) Order, 1972 (President's Order)

WHEREAS it is expedient to provide for the taking over of the undertaking of certain banks in Bangladesh and for matters connected therewith or incidental thereto;

 
 
 
NOW, THEREFORE, in pursuance of the Proclamation of Independence of Bangladesh, read with the Provisional Constitution of Bangladesh Order, 1972, and in exercise of all powers enabling him in that behalf, the President is pleased to make the following Order:-
 
 
 

CONTENTS

SECTIONS

1. (1) This Order may be called the Bangladesh Ban

2. In this Order, unless there is anything repugna

3. The provisions of this Order and any rule or re

4. (1) On the commencement of this Order, there sh

5. [(1) The paid-up capital and reserve capital of

6. On the commencement of this Order, the undertak

7. (1) The undertaking of each existing bank shall

7A.

7B.

8. (1) The Government shall give compensation to e

9. (1) The general superintendence, direction and

10. The Board shall consist of the Managing Direct

11. [(1) The Managing Director shall be appointed

11A.

[12. (1) Subject to other provisions of this Order

13. No person shall be, or shall continue to be a

14. (1) If a Director becomes subject to any of th

15. A Director, other than the Managing Director,

15A.

16. The Board may constitute from amongst its Dire

17. (1) The meetings of the Board shall be held at

18. Every Director shall, before entering upon his

19. (1) All acts done by the Managing Director of

20. (1) The Managing Director and every officer or

21. (1) Every new bank shall carry on and transact

21A.

22. (1) A new bank shall not transact the followin

23. (1) Every new bank may, subject to [other prov

24. (1) The accounts of every new bank shall be au

25. After making provision for bad and doubtful de

26. Any reference to any existing bank in any law,

27. No provision of law relating to the winding up

27A.

28. The Government may, by notification in the off

29. (1) The Board of any new bank may, with the pr

30. If any difficulty arises in giving effect to t

31. All laws relating to banker and banking compan

32. (1) The existing banks shall stand dissolved i

Schedule

SCHEDULE