The Bangladesh House Building Finance Corporation Order, 1973 (President's Order).

( ACT NO. 7 Of 1973 )

WHEREAS it is expedient to provide for the establishment of the Bangladesh House Building Finance Corporation for the purposes of providing financial facilities for the construction, repair and remodelling of houses 1[at any place] in Bangladesh.

 
 
 
NOW, THEREFORE, 2[in pursuance of] paragraph 3 of the Fourth Schedule to the Constitution of the People’s Republic of Bangladesh and in exercise of all powers enabling him in that behalf, the President is pleased to make the following Order:-
 
 
 

CONTENTS

SECTIONS

1. (1) This Order may be called the Bangladesh Hou

2. In this Order, unless there is anything repugna

3. (1) A Corporation to be called the Bangladesh H

4. (1) The authorised capital of the Corporation s

5. (1) The general direction and administration of

6. (1) The Managing Director shall be appointed by

7. (1) The Board shall consist of a Managing Direc

8. (1) A Director shall hold office during the ple

9. No person shall be or shall continue to be a Di

10. A person shall cease to be a Director if he ab

10A.

11. (1) The Corporation may [, subject to other pr

12. The Corporation may appoint a Standing Committ

13. (1) The meetings of the Board shall be held at

14. The non-official Director, if any, shall be pa

15. The Corporation shall have its Head Office at

16. The Corporation may open deposit accounts with

17. The Corporation may invest its funds in such s

18. (1) The Corporation may, with the prior approv

19. (1) The Corporation may accept deposits on suc

20. Subject to the provisions of this Order, the C

21. (1) No loan shall be made unless it is fully s

[22. The Corporation shall not grant any loan of a

23. (1) The Corporation shall make such agreements

24. The Corporation shall not- (a) accept any depo

25. Notwithstanding any agreement to the contrary,

26. (1) When a borrower or his surety makes defaul

27. (1) Where by reason of the breach of any agree

28. The Corporation shall be deemed to be a Bank f

29. After making provision for bad and doubtful de

29A.

30. (1) The accounts of the Corporation shall be a

31. (1) The Corporation shall furnish to the Gover

32. No provision of law relating to the winding up

33. (1) Every Director shall be indemnified by the

34. Every Director, auditor, officer or servant of

35. (1) Whoever wilfully makes a false statement o

36. The Government may make rules not inconsistent

37. (1) The Board may, with the previous sanction

38. Notwithstanding anything contained in any othe

39. The House Building Finance Corporation Act, 19

Schedule

SCHEDULE