The Banks (Transfer of Assets and Liabilities) Act, 1974

Current legal status not independently verified. Source: Pakistan Code (single official PDF, 2026-08-21). The text below is the official Pakistan Code text as retrieved; whether it is still in force, or has since been amended or repealed, has not been independently checked.

WHEREAS it is expedient to provide for the transfer to the National Bank of Pakistan of certain assets and liabilities of the Eastern Mercantile Bank Limited and the Eastern Banking Corporation Limited; It is hereby enacted as follows:—

• Section 1: Short title, extent and commencement
• Section 2: Definitions
• Section 3: Act to over-ride other laws
• Section 4: Vesting of specified offices and branches
• Section 5: Contracts and proceedings
• Section 6: Excepted liabilities
• Section 7: Delivery of undertaking
• Section 8: Police assistance
• Section 9: Evaluation
• Section 10: Validity of action of officers of specified offices and branches
• Section 11: Extension of limitation
• Section 12: References in other laws
• Section 13: Penalties
• Section 14: Bar of Jurisdiction
• Section 15: Indemnity
• Section 16: Power to make rules
• Section 17: Removal of difficulties
• Section 18: 1[Omitted]
• THE SCHEDULE: THE SCHEDULE