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The Investment Corporation of Bangladesh Ordinance, 1976

( Ordinance NO. XL OF 1976 )

Business which the Corporation is authorised to transact
21. The Corporation may carry on, transact or do the several kinds of business and acts hereinafter specified, namely:ÔÇö
(1) to underwrite, manage and distribute the issue of stocks, shares, bonds, debentures and other securities either directly or through or jointly with one or more institutions;
(2) to promote, organise, manage trusts or funds of any type or character or to acquire, hold, sell or deal in certificates or securities of any trust or funds;
(3) to open and maintain Investors' Deposit Accounts and other term Deposit Accounts;
(4) to purchase and sell shares to the Investors' Deposit Account holders over the counter;
(5) to make advances for purchase of shares and investment in such other securities as may be approved in each case;
(6) to engage in the business of investing and re-investing in and the owning and holding of securities;
(7) to merchandise shares and other securities in any manner as a principal or an agent;
(8) to facilitate investments by selling new floatations of existing or new companies without underwriting obligations;
(9) to help generally in broadening the base of investment and encourage investments in sound projects;
(10) to manage investment portfolios on behalf of individuals or institutions;
(11) to provide professional counsel regarding investments;
1[(11a) to undertake and carry on any business that the Board considers appropriate for the purpose of broadening the base of investment;]
(12) to be a member of the Stock Exchange in Bangladesh and undertake all the functions of a member;
(13) to act as trustees of any deeds and to undertake and execute any trusts and also to undertake the office of or exercise the powers of executor, administrator, receiver, treasurer, custodian or secretary;
(14) to constitute any trusts with a view to the issue of any stocks, securities, certificates, or other documents, based on or representing any or all assets appropriated for the purpose of any such trust and to settle and regulate any such trusts and to issue, hold or dispose of any such stocks, securities, certificates or documents;
(15) to appoint trustees to hold shares, stocks, debentures, debenture stocks, bonds, obligations and securities on behalf of the Corporation;
(16) to take part in the formation, management or supervision or control of the business or operations, of any company or undertaking;
2[(16a) to carry on and transact such other business as the Board may think appropriate for the purpose of ensuring the carrying on any of its functions or business under this Ordinance;]
(17) for purposes of, and in matters relating to, its business or objects-
(a) to purchase or otherwise acquire, own, sell, transfer and exchange any tangible or intangible, movable or immovable property and any rights, title or interest in such property absolutely, temporarily or on hire or by hire-purchase or on instalment or on such other terms and conditions as may be approved by the Board;
(b) to accept and furnish any undertaking or commercial guarantee for the performance of any obligation or the fulfilment of any contract or the repayment of any money;
(c) to accept and furnish any lien, charge, hypothecation or mortgage on any movable or immovable property or any promissory note or bill of exchange;
(d) to enter into agreements and contracts and execute such documents as may be considered necessary or expedient;
(e) to employ experts or other persons to investigate and examine into conditions, prospects, value and character of business concerns or other undertakings and generally of any assets, properties or rights;
(18) to appoint attorneys and agents;
(19) to receive and pay commission, fees and brokerage in connection with its business;
(20) to sell and realise all property whether movable or immovable which may in any way come into possession of the Corporation in satisfaction or part satisfaction of its claims; and
(21) generally do all such acts and things as may be necessary or incidental or subsidiary to the transacting of any of the aforesaid business or acts including proceedings in courts of law.

  • 1
    Clause (11a) was inserted by section 9 of the Investment Corporation of Bangladesh (Amendment) Act, 2000 (Act No. XXIV of 2000)
  • 2
    Clause (16a) was inserted by section 9 of the Investment Corporation of Bangladesh (Amendment) Act, 2000 (Act No. XXIV of 2000)
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