The Bangladesh Petroleum Corporation Ordinance, 1976

( Ordinance NO. LXXXVIII OF 1976 )

[ 13th November, 1976 ]

এই অধ্যাদেশ বাংলাদেশ পেট্রোলিয়াম কর্পোরেশন আইন, ২০১৬ (২০১৬ সনের ৮ নং আইন) দ্বারা রহিত করা হইয়াছে।
An Ordinance to provide for the establishment of the Bangladesh Petroleum Corporation.

 
 
 
WHEREAS it is expedient to provide for the establishment of a Corporation for the purposes of import, refining and processing of crude petroleum, blending of lubricants, import, export and marketing of petroleum products including by-products and lubricants (but excluding natural gas), and for matters ancillary thereto;
 
 
 
 
NOW, THEREFORE, in pursuance of the Proclamations of the 20th August, 1975, and the 8th November, 1975 and in exercise of all powers enabling him in that behalf, the President is pleased to make and promulgate the following Ordinance:-
 
 
 

CONTENTS

SECTIONS

1. Short title

2. Definitions

3. Establishment and incorporation

4. Head Office, etc.

5. Authorised Capital

6. Functions of the Corporation

7. Management

8. Board

9. Chairman and other Directors

10. Functions of the Chairman and other Directors

11. Disqualifications and removal of Directors

12. Meeting of the Board

13. Formation of new companies

14. Reserve Fund

15. Profit on crude oil, etc.

16. Operation of Accounts

17. Investment in securities

18. Disinvestment of shares

19. Budget

20. Account and Audit

21. Reports, etc.

22. Appointment of officers, etc.

23. Delegation of powers

24. Alteration, etc., of Memorandum of Association, etc.

25. Acquisition of land, etc.

26. Public Servants

27. Indemnity

28. Winding up of the Corporation

29. Power to make rules

30. Power to make regulations

31. Transfer of certain functions and rights, etc.

32. Power to amend the Schedule

Schedule

SCHEDULE