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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 )

 
 
 
 
29. (1) The Board of any new bank may, with the previous approval of the Government, make regulations, not inconsistent with the provisions of this Order and the rules, to provide for all matters for which provision is necessary or expedient for the purpose of giving effect to the provision of this Order.
 
 
 
 
(2) In particular and without prejudice to the generality of the foregoing power, such regulations may provide for-
 
 
 
 
(a) the calling of the meetings of the Board or of any committee, fees for attending the meetings thereof and the conduct of business thereat;
 
 
 
 
(b) the delegation of powers and functions of the Board to the 1[Chairman, Managing Director], Director, officer or other employee of the bank;
 
 
 
 
 
 
(c) the conditions subject to which the bank may grant loans;
 
 
 
 
(d) the manner of determining the sufficiency of the security for the purpose of business;
 
 
 
 
(e) the manner and conditions subject to which the bank may borrow in foreign currency;
 
 
 
 
(f) the form of returns and statements required to be prepared under this Order;
 
 
 
 
(g) the duties and conduct of advisers, officers, other employees and agents of the bank;
 
 
 
 
(h) the recruitment, remuneration, promotion and other terms and conditions of service of the officer and other employees of the bank;
 
 
 
 
(i) the establishment and maintenance of pension, provident or other fund for the benefit of officers and other employees of the bank including the dependents of such officers and other employees;
 
 
 
 
(j) the provision of a seal of the bank and the manner and effect of its use;
 
 
 
 
(k) the disclosure of interest, direct or indirect, of any Director or any member of a committee in any business concern;
 
 
 
 
(l) taking over the management and control of any industrial or business concern committing a breach of its agreement with the bank;
 
 
 
 
(m) publication of audited balance-sheet and profit and loss account;
 
 
 
 
(n) generally for the efficient conduct of the affairs of the bank;
 
 
 
 
(3) All regulations made under this Article shall be published in the official Gazette and shall come into force on such publication.

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