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06/12/2022
Laws of Bangladesh

The Bangladesh Banks (Nationalisation) Order, 1972 (President's Order)

( PRESIDENT'S ORDER NO. 26 OF 1972 )

 
 
 
 
1[11A. 2[(1) The Government may appoint one or more Deputy Managing Directors for each new bank in consultation with Bangladesh Bank, on such terms and conditions as it may determine and may transfer a Deputy Managing Director of a new bank as the Deputy Managing Director of any other new bank.]
 
 
 
 
(2) The Deputy Managing Director shall-
 
 
 
 
(a) be a whole-time officer of the new bank;
 
 
 
 
(b) exercise such powers, perform such functions and discharge such duties as may be entrusted by the Government or as may be prescribed or as may be assigned by the Board from time to time.]
 
 
 
 
3[(3) The Government, in consultation with Bangladesh Bank, may remove any Deputy Managing Director from his office if he becomes incapable of performing his duties, or has done any act which is manifestly detrimental to the interest of the bank.]

  • 1
    Article 11A was inserted by section 2 of the Bangladesh Banks (Nationalisation) (Amendment) Ordinance, 1983 (Ordinance No. LIX of 1984)
  • 2
    Clause 1 was substituted by section 4 of the Bangladesh Bank (Nationalisation) (Amendment) Act, 2003 (Act No. X of 2003)
  • 3
    Clause 3 was added by section 4 of the Bangladesh Bank (Nationalisation) (Amendment) Act, 2003 (Act No. X of 2003)
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