Laws of Bangladesh

The Public Investments (Financial Safeguards) Ordinance, 1960

( Ordinance NO. XLVI OF 1960 )

Power to Government to give directions in certain other cases
4. Where any corporation has been established otherwise than by Government, but Government, or any such corporation, institution or undertaking as is referred to in section 3, has provided a portion of the capital or funds thereof, and is thereby entitled to appoint one or more Directors, the Government may, notwithstanding anything in the 1[Companies Act, 1994 (Act 18 of 1994)], or in any other law, or in any instrument, deed or other document relating thereto, give the director or directors so appointed such general or special financial directions as it may think necessary, and it shall be the duty of every such director to comply with the directions so given.

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    The words, comma, figures and brackets “Companies Act, 1994 (Act 18 of 1994)” were substituted for the words, comma, brackets and figure “Companies Act, 1913 (VII of 1913)” by section 3 of the Bangladesh Laws (Revision and Declaration) (Third Amendment) Act, 2001 (Act No. XLVIII of 2001)
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