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The Bangladesh Shilpa Rin Sangstha Order, 1972 (President's Order)

( PRESIDENT'S ORDER NO. 128 OF 1972 )

2. In this Order, unless there is anything repugnant in the subject or context,-
 
 
 
 
(a) “Board” means the Board of Directors of the Sangstha;
 
 
 
 
(b) “bond” means a bond of any description issued by any institution or by the Government;
 
 
 
 
(c) “Chairman” means the Chairman of the Board;
 
 
 
 
(d) “ 1[company]” means a company as defined in the Companies Act, 1913 (Act VII of 1913), and includes a body corporate established or incorporated under any other law for the time being in force;
 
 
 
 
(e) “Sangstha” means the Bangladesh Shilpa Rin Sangstha established by this Order;
 
 
 
 
(f) “Credit and Investment Corporation” means the Pakistan Industrial Credit and Investment Corporation Limited which, after the 16th day of December, 1971, was called the Bangladesh Industrial Credit and Investment Corporation Limited;
 
 
 
 
(g) “debenture” means debenture issued by any institution in Bangladesh in accordance with the rules for the time being applicable to the issue of debenture and includes debenture stock;
 
 
 
 
(h) “Deposit account” means an account maintained by the Sangstha of the cash deposits made with it for purposes of investment;
 
 
 
 
(i) “Director” means a Director of the Sangstha;
 
 
 
 
(j) “District Judge” includes an Additional District Judge or a Subordinate Judge;
 
 
 
 
(k) “equity security” means-
 
 
 
 
(i) any stock or transferable share, preferred or common, or similar security representing ownership;
 
 
 
 
(ii) any security carrying any warrant or right to purchase or subscribe for such security and any such warrant or right itself; and
 
 
 
 
(iii) such other security representing ownership as may be prescribed;
 
 
(m) “Government” means the Government of the People's Republic of Bangladesh;
 
 
 
 
(n) “industrial concern” means a concern engaged or to be engaged in such industry or business, or in the manufacture, preservation or processing of such goods, as the Government may, by notification in the official Gazette, specify from time to time, and includes a company;
 
 
 
 
(o) “industrial concern in the private sector” means an industrial concern which is not an industrial concern in the Public sector;
 
 
 
 
(p) “industrial concern in the public sector” means an industrial concern at least fifty one per cent shares of which are held by the Government and includes any other industrial concern which the Government may, by notification in the official Gazette, declare to be an industrial concern in the public sector for the purpose of this Order;
 
 
 
 
(q) “institution” means an organisation established under any law for the time being in force in Bangladesh for the promotion of some public object;
 
 
 
 
(r) “Investment Corporation” means the Investment Corporation of Bangladesh established under the Investment Corporation Ordinance, 1966 (Ord. No. IV of 1966), read with the Bangladesh (Administration of Financial Institutions) Order, 1972 (A. P. O. No. 3 of 1972), which before the seventh day of January, 1972 was called the Investment Corporation of Pakistan;
 
 
 
 
(s) “Investment Trust” means the National Investment Trust Limited;
 
 
 
 
(t) “ 2[loan]” includes guarantee or indemnity which the Sangstha may give on behalf of an industrial concern and any liability which the Sangstha may incur on behalf of an industrial concern;
 
 
 
 
(u) “Managing Director” means the Managing Director of the Sangstha;
 
 
(v) “prescribed” means prescribed by rules or regulations made under this Order;
 
 
 
 
(w) “securities” includes any note, stock, bond, debenture, evidence of indebtedness, transferable share, investment contract, certificate of deposit for a security, certificate of interest or participation in any profit sharing agreement; and
 
 
 
 
(x) “underwriting” means contracting, with or without conditions, to purchase or subscribe for stocks, shares, bonds, debentures or other securities issued by any company with a view to holding, selling or distributing the whole or part thereof.

  • 1
    The word “company” was substituted for the word “Company” by section 2 of the Bangladesh Shilpa Rin Sangstha (Amendment) Ordinance, 1977 (Ordinance No. XIV of 1977)
  • 2
    The word “loan” was substituted for the word “Loan” by section 2 of the Bangladesh Shilpa Rin Sangstha (Amendment) Ordinance, 1977 (Ordinance No. XIV of 1977)
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Ministry of Law, Justice and Parliamentary Affairs