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THE BANGLADESH PETROLEUM CORPORATION ORDINANCE, 1976

(ORDINANCE NO. LXXXVIII OF 1976).
  Part No : Chapter No : Section No: [ 13th November, 1976  
  
 
এই অধ্যাদেশ বাংলাদেশ পেট্রোলিয়াম কর্পোরেশন আইন, ২০১৬ (২০১৬ সনের ৮ নং আইন) দ্বারা রহিত করা হইয়াছে।
     An Ordinance to provide for the establishment of the Bangladesh Petroleum Corporation.
 
    WHEREAS it is expedient to provide for the establishment of a Corporation for the purposes of import, refining and processing of crude petroleum, blending of lubricants, import, export and marketing of petroleum products including by-products and lubricants (but excluding natural gas), and for matters ancillary thereto;



NOW, THEREFORE, in pursuance of the Proclamations of the 20th August, 1975, and the 8th November, 1975 and in exercise of all powers enabling him in that behalf, the President is pleased to make and promulgate the following Ordinance:-
 
CONTENTS
 
SECTIONS
 
1. Short title
2. Definitions
3. Establishment and incorporation
4. Head Office, etc.
5. Authorised Capital
6. Functions of the Corporation
7. Management
8. Board
9. Chairman and other Directors
10. Functions of the Chairman and other Directors
11. Disqualifications and removal of Directors
12. Meeting of the Board
13. Formation of new companies
14. Reserve Fund
15. Profit on crude oil, etc.
16. Operation of Accounts
17. Investment in securities
18. Disinvestment of shares
19. Budget
20. Account and Audit
21. Reports, etc.
22. Appointment of officers, etc.
23. Delegation of powers
24. Alteration, etc., of Memorandum of Association, etc.
25. Acquisition of land, etc.
26. Public Servants
27. Indemnity
28. Winding up of the Corporation
29. Power to make rules
30. Power to make regulations
31. Transfer of certain functions and rights, etc.
32. Power to amend the Schedule
SCHEDULE
 
 

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