Print View

[Section Index]

The Bangladesh Industrial Enterprises (Nationalisation) Order, 1972 (President's Order)

( PRESIDENT'S ORDER NO. 27 OF 1972 )

[ 26th March, 1972 ]

 
 
 
 
10. (1) On the commencement of this Order, there shall be established the following corporations:
 
 
 
 
(a) 1[Bangladesh Jute Mills Corporation], which shall have and exercise all the powers of a corporation in respect of the industrial enterprises engaged in jute manufacturing enumerated in the First Schedule;
 
 
 
 
(b) 2[Bangladesh Textile 3[Mills] Corporation], which shall have and exercise all the powers of a corporation in respect of all the industrial enterprises engaged in cotton manufacturing enumerated in the Second Schedule;
 
 
 
 
4[(c) Bangladesh Sugar and Food Industries Corporation, which shall have and exercise all the powers of a Corporation under this Order in respect of industrial enterprises enumerated in the Third Schedule and such other enterprises as the Government may, by order published in the official Gazette, place under it;]
 
 
 
 
 
 
 
 
5[(d) (i) Bangladesh Steel and Engineering Corporation, (ii) Bangladesh Chemical Industries Corporation, 6[* * *] each of which shall have and exercise the powers of a Corporation under this Order in respect of such industrial enterprises, including enterprises owned wholly or partly by the Government under the Bangladesh Abandoned Property (Control, Management and Disposal) Order, 1972, (P.O. No. 16 of 1972), or owned or managed by any statutory corporation, as the Government may, by order published in the official Gazette, place under it.]
 
 
 
 
7[(1A) Notwithstanding anything contained in any other law, an industrial enterprise, placed under any Corporation by an order notified in the official Gazette under sub-clause (d) of clause (1) of Article 10, and all shares or other proprietory interest in such industrial enterprise shall be deemed to have always vested in the Government and no such order shall be challenged on the ground that the industrial enterprise or the shares or interest therein had not vested in the Government, or that the industrial enterprise, or any share or interest therein, was not liable to be vested in the Government 8[* * *].
 
 
 
 
(2) Each Corporation shall be a body corporate, having perpetual succession and a common seal with power, subject to the provision of this Order, to acquire, hold and dispose of property, both movable and immovable, and shall by 9[its name] sue and be sued.
 
 
 
 
 
 
(3) The head office of each Corporation shall be at Dacca.
  • 1
    The words “Bangladesh Jute Mills Corporation” were substituted for the words “Bangladesh Jute Industries Corporation” by section 2 of the Bangladesh Industrial Enterprises (Nationalisation) (Amendment) Ordinance, 1984 (Ordinance No. LV of 1984)
  • 2
    The words “Bangladesh Textile Industries Corporation” were substituted for the words “Bangladesh Cotton Mills Corporation” by Article 2 of the Bangladesh Industrial Enterprises (Nationalisation) (Fifth Amendment) Order, 1972 (President’s Order No. 131 of 1972)
  • 3
    The word “Mills” was substituted for the word “Industries” by section 4 of the Bangladesh Industrial Enterprises (Nationalisation) (Second Amendment) Ordinance, 1976 (Ordinance No. XXV of 1976)
  • 4
    Clause (c) was substituted by section 4 of the Bangladesh Industrial Enterprises (Nationalisation) (Second Amendment) Ordinance, 1976 (Ordinance No. XXV of 1976)
  • 5
    Clause (d) was substituted by section 4 of the Bangladesh Industrial Enterprises (Nationalisation) (Second Amendment) Ordinance, 1976 (Ordinance No. XXV of 1976)
  • 6
    The words, brackets, figure and comma “and (iii) Bangladesh Oil and Gas Corporation which may also be called PETROBANGLA,” were omitted by section 24 of the Bangladesh Oil, Gas and Mineral Corporation Ordinance, 1985 (Ordinance No. XXI of 1985)
  • 7
    Clause (1A) was inserted by Article 2 of the Bangladesh Industrial Enterprises (Nationalisation) (Seventh Amendment) Order, 1972 (President’s Order No. 153 of 1972)
  • 8
    The proviso was omitted by section 4 of the Bangladesh Industrial Enterprises (Nationalisation) (Second Amendment) Ordinance, 1976 (Ordinance No. XXV of 1976)
  • 9
    The words “its name” were substituted for the words “said name” by section 4 of the Bangladesh Industrial Enterprises (Nationalisation) (Second Amendment) Ordinance, 1976 (Ordinance No. XXV of 1976)
Copyright © 2019, Legislative and Parliamentary Affairs Division
Ministry of Law, Justice and Parliamentary Affairs