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

( PRESIDENT'S ORDER NO. 128 OF 1972 )

[ 31st October, 1972 ]

19. (1) The Sangstha shall not undertake or transact any kind of business other than those authorized by or under this 1[Order] and, in particular, it shall not discount or buy or advance, lend or open cash credit on the security of, any negotiable instrument of any individual or partnership firm which does not carry on it the several responsibilities of at least two persons or firms not connected with each other in general partnership.
 
 
 
 
(2) Notwithstanding anything contained in 2[clause] (1), the Sangstha may grant advances or loans or make ex gratia payments 3[* * *], to its officers and staff for the purposes of providing amenities and facilities for their betterment.
  • 1
    The word “Order” was substituted for the word “order” by section 7 of the Bangladesh Shilpa Rin Sangstha (Amendment) Ordinance, 1977 (Ordinance No. XIV of 1977)
  • 2
    The word “clause” was substituted for the word “Clause” by section 7 of the Bangladesh Shilpa Rin Sangstha (Amendment) Ordinance, 1977 (Ordinance No. XIV of 1977)
  • 3
    The words “with prior approval of the Government” were omitted by section 12 of the Bangladesh Shilpa Rin Sangstha (Amendment) Act, 1987 (Act No. XIX of 1987)
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