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The Bangladesh Bank Order, 1972 (President's Order)


Chapter VI


82. (1) 1[The Board] may make regulations consistent with the Order to provide for all matters for which provision is necessary or convenient for the purpose of giving effect to the provisions of this Order :
Provided that in the event of non existence of the Board, the Governor may, with the approval of the Government make regulations for the purpose of giving effect to the provisions of this Order and generally for carrying out the purposes of this Order.
(2) In particular and without prejudice to the generality of the foregoing provision, such regulations may provide for all or any of the following matters, namely:-
(a) the manner in which meetings of the Board shall be transacted and the procedure to be followed at meetings thereof;
(b) the conduct of the business of the Executive Committee;
(c) the delegation of powers and functions of the Board, the Governor, Deputy Governor, Directors, or Officers of the Bank;
(d) the formation of committees of the Board, their supervision by the Board and the conduct of business in such committees;
(e) recruitment of employees of the Bank including the terms and conditions of their service, constitution of superannuation, beneficial and other funds, with or without Bank's contribution, for the employees of the Bank, their welfare, providing amenities, medical facilities, grant of loans and advances, their betterment and uplift;
(f) the manner and form in which contracts binding on the Bank may be executed;
(g) the provision of an official seal of the Bank and the manner and effects of its use;
(h) the manner and forms in which the balance- sheet of the Bank shall be drawn up, and in which the accounts shall be maintained;
(i) the remuneration of Directors;
(j) the relations of the scheduled banks with the Bank and the returns to be submitted by the scheduled banks to the Bank;
(k) the regulations of clearing houses for the scheduled banks;
(l) the circumstances in which and the conditions and limitations subject to which, the value of any lost, stolen, mutilated or imperfect Bank Note may be refunded as of grace;
(m) the denomination, form, issue, negotiability, encashment and repatriation of the instruments mentioned in clause (8) of Article 16;
(n) generally, for making any provision necessary or convenient for the efficient conduct of the business, discharge of functions and for purposes of management of the Bank.
2[(2A) Notwithstanding anything contained in this Article, no regulation under sub-clause (h), (i) and (m) of clause (2) shall be made without the prior approval of the Government:
Provided that regulations falling under sub-clause (e) on salary and compensation packages of employees would be subject to the approval of the Government, based on due consideration of skill and competence needed for central banking.]
(3) Copies of all regulations made under this Article shall be available to the public on payment.

  • 1
    The words “The Board” were substituted for the words “Subject to the approval of the Government the Board” by section 24 of the Bangladesh Bank (Amendment) Act, 2003 (Act No. IX of 2003)
  • 2
    Clause (2A) was inserted by section 24 of the Bangladesh Bank (Amendment) Act, 2003 (Act No. IX of 2003)
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Ministry of Law, Justice and Parliamentary Affairs