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

( PRESIDENT'S ORDER NO. 127 OF 1972 )

Chapter II

ESTABLISHMENT, INCORPORATION, CAPITAL AND MANAGEMENT

9. 1[* * *]
 
 
(2) 2[The general superintendence] and direction of the affairs and business of the Bank shall be entrusted to a Board of Directors which may exercise all the powers and do all acts and things that may be exercised or done by the Bank 3[:
 
 
Provided that until the first Board is constituted, the Governor may exercise all powers and do all acts and things as are required to be exercised or done by the Board.]
 
 
4[(3) The Board shall consist of-
 
 
(a) the Governor;
 
 
(b) a Deputy Governors, to be nominated by the Government;
 
 
(c) 5[four Directors who will not be Government officials] to be nominated by the Government from amongst persons who, in the opinion of the Government, have had experience and shown capacity in the field of banking, trade, commerce, industry or agriculture.
 
 
(d) three Government Officials to be nominated by the Government.]

  • 1
    Clause (1) was omitted by section 6 of the Bangladesh Bank (Amendment) Act, 2003 (Act No. IX of 2003)
  • 2
    The words “The general superintendence” were substituted for the words “Subject to any such direction the general superintendence” by section 6 of the Bangladesh Bank (Amendment) Act, 2003 (Act No. IX of 2003)
  • 3
    The colon (:) was substituted for the full-stop (.) and thereafter the proviso was added by section 2 of the Bangladesh Bank (Amendment) Ordinance, 1976 (Ordinance No. LVI of 1976)
  • 4
    Clause (3) was substituted by section 2 of the Bangladesh Bank (Amendment) Act, 1975 (Act No. XXXIII of 1975)
  • 5
    The words “four Directors who will not be Government officials” were substituted for the words “four Directors” by section 6 of the Bangladesh Bank (Amendment) Act, 2003 (Act No. IX of 2003)
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