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27/01/2022
Laws of Bangladesh

The Bangladesh Bank Order, 1972 (President's Order)

( PRESIDENT'S ORDER NO. 127 OF 1972 )

Chapter II

ESTABLISHMENT, INCORPORATION, CAPITAL AND MANAGEMENT

6. (1) All suits, appeals, or other legal proceedings of whatever nature pending on the appointed day by or against the State Bank in relation to its undertaking which has vested in the Bank under Article 5, shall be deemed to be suits, appeals and other legal proceedings pending by or against the Bank and may be continued and enforced by or against the Bank.
 
 
(2) Notwithstanding anything contained in any other law for the time being in force, where any proceeding for the winding up of a banking company under the Banking Companies Ordinance, 1962, is pending before the High Court of Bangladesh immediately before the appointed day in which the State Bank was appointed as Official Liquidator, the Bank shall be substituted in place of the State Bank as the Official Liquidator and shall be deemed always to have been so substituted.

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