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19/05/2024
Laws of Bangladesh

The Undesirable Companies (Second) Ordinance, 1958 (East Pakistan Ordinance)

( Ordinance NO. XLIX OF 1958 )

Existing undesirable companies to cease functioning
4. (1) Every undesirable company existing immediately before the commencement of this Ordinance shall, on such commencement, cease to function and, notwithstanding anything in the Companies Act, 1994 (Act No. 18 of 1994), or in any other law for the time being in force, shall be wound up and dissolved in the manner provided in this Ordinance.
 
 
 
 
(2) Any transaction with an undesirable company or with any officer or agent acting for or on behalf of such company shall be void.
 
 
 
 
(3) Any officer or agent acting for or on behalf of any such company who, on or after the commencement of this Ordinance, carried on or, attempts to carry on the business of the company shall be punishable with imprisonment for a term which may extend to three years or with fine or with both.

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