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18/04/2024
Laws of Bangladesh

The Investment Corporation of Bangladesh Ordinance, 1976

( Ordinance NO. XL OF 1976 )

Definitions
 
2. In this Ordinance, unless there is anything repugnant in the subject or context,—
 
 
(a) “advance” means a loan for purposes of investment;
 
 
(b) “Bangladesh Bank” means the Bangladesh Bank established under the Bangladesh Bank Order, 1972 (P.O. No. 127 of 1972);
 
 
(c) “Board” means the Board of Directors of the Corporation;
 
 
(d) “bond” means a bond of any description issued by any institution or by the Government;
 
 
(e) “Chairman” means the Chairman of the Board;
 
 
(f) “company” means a company as defined in 11[ section 2(d) (2(N) aviv) of ধারা) ড়ভ কোম্পানী আইন, 1994 (1994 সনের ১৮ নং
 
আইন], and includes a body corporate established or incorporated under any other law for the time being in force in Bangladesh;
 
 
(g) “Corporation” means the Investment Corporation of Bangladesh established under this Ordinance;
 
 
(h) “debenture” means debenture issued by any company or institution in Bangladesh in accordance with the rules for the time being applicable to the issue of debentures and includes debenture stock;
 
 
(i) “Deposit Account” means an account maintained by the Corporation of the cash deposits made with it for purposes of investment;
 
 
(j) “Director” means a Director of the Corporation;
 
 
(k) “investment” means investment in the equity or debentures and other securities of any company or institution;
 
 
(l) “Managing Director” means the Managing Director of the Corporation and includes any person for the time being authorised to discharge the functions of the Managing Director;
 
 
(m) “prescribed” means prescribed by rules or regulations;
 
 
(n) “prospectus” means a prospectus as defined in 22[ within the meaning of কোম্পানী আইন, ১৯৯৪ (১৯৯৪ সনের ১৮ নং আইন];
 
(o) “regulations” means regulations made under this Ordinance;
 
 
(p) “rule” means a rule made under this Ordinance;
 
 
(q) “scheduled bank” has the same meaning as is assigned to it in the Bangladesh Bank Order, 1972 (P.O. No. 127 of 1972);
 
 
(r) “securities” include any note, stock, bond, debenture, evidence of indebtedness, transferable share, investment contract, certificate of deposit for a security, a certificate of interest or participation in any profit sharing agreement;
 
 
(s) “share” means share of any joint stock company registered in Bangladesh;
 
 
(t) “Shilpa Bank” means the Bangladesh Shilpa Bank established under the Bangladesh Shilpa Bank Order, 1972 (P.O. No. 129 of 1972);
 
 
(u) “Shilpa Rin Sangstha” means the Bangladesh Shilpa Rin Sangstha established under the Bangladesh Shilpa Rin Sangstha Order, 1972 (P.O. No. 128 of 1972);
 
 
33[ (uu) ‘Subsidiary' means a subsidiary company established under section 21A (1) of the Ordinance;]
 
 
(v) “underwriting” means contracting, with or without conditions, to purchase or subscribe for stocks, shares, bonds, debentures or other securities issued by any company or institution with a view to holding, selling or distributing the whole or part thereof.

  • 1
    The words, figures, brackets and comma “section 2(d) (2(N) ধারা) of ড়ভ কোম্পানী আইন, ১৯৯৪ (১৯৯৪ সনের ১৮ নং আইন)চ্ were substituted for the words, figures, brackets and comma “ section 2 (2) of the Companies Act, 1913 (VII of 1913)” by section 2 of the Investment Corporation of Bangladesh (Amendment) Act, 2000 (Act No. XXIV of 2000)
  • 2
    The words, figures, brackets and comma “within the meaning of কোম্পানী আইন, ১৯৯৪ (১৯৯৪ সনের ১৮ নং আইন)চ্ were substituted for the words, figures, brackets and comma “clause (14) of section 2 of the Companies Act, 1913 (VII of 1913)” by section 2 of the Investment Corporation of Bangladesh (Amendment) Act, 2000 (Act No. XXIV of 2000)
  • 3
    Clause (uu) was inserted by section 2 of the Investment Corporation of Bangladesh (Amendment) Act, 2000 (Act No. XXIV of 2000)
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