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

( PRESIDENT'S ORDER NO. 27 OF 1972 )

[ 26th March, 1972 ]

 
 
23. 1[(1)] No Provision of law relating to the winding up of companies shall apply to a Corporation and a Corporation shall not be wound up save by order of the Government and in such manner as it may direct.
 
 
 
 
2[(2) No provision of law relating to the winding up of companies shall apply to any scheduled industrial enterprise and such industrial enterprise shall not be wound up save by order of the Government and in such manner as it may direct.
 
 
 
 
(3) All proceedings for the winding up of any scheduled industrial enterprise which, immediately before the commencement of this Order, were pending in any court shall, on such commencement, abate.]
 
 
 
 
3[(4) When a winding up order has been made, no suit or other legal proceedings shall be proceeded with or commenced against a scheduled industrial enterprise or any industrial enterprise placed under a Corporation by an order under clause (1) of Article 10 and all suits and other legal proceedings pending against such an enterprise on the date of winding up order shall abate.]
  • 1
    Article 23 was renumbered as Article 23(1) by Article 2 of the Bangladesh Industrial Enterprises (Nationalisation) (Amendment) Order, 1972 (President’s Order No. 37 of 1972)
  • 2
    Clauses (2) and (3) were added by Article 2 of the Bangladesh Industrial Enterprises (Nationalisation) (Amendment) Order, 1972 (President’s Order No. 37 of 1972)
  • 3
    Clause (4) was inserted by section 2 of the Bangladesh Industrial Enterprises (Nationalisation) (Amendment) Ordinance, 1984 (Ordinance No. LXXIII of 1984)
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