The Corporate Industrial Restructuring Corporation Ordinance, 2000
Departmental Laws · Federal · 2000 · L of 2000
Expired / historical — retained for reference. 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text below is the official Pakistan Code text as retrieved; whether it is still in force, or has since been amended or repealed, has not been independently checked.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, the President is satisfied that circumstances exist which render it necessary to take immediate action; NOW, THEREFORE, in pursuance of the Proclamation of Emergency of the fourteenth day of October, 1999, and Provisional Constitution Order No. 1 of 1999, as well as Order No. 9 of 1999, and in exercise of all powers enabling him in that behalf, the President of the Islamic Republic of Pakistan is pleased to make and promulgate the following Ordinance:— CHAPTER I. — PRELIMINARY
- Section 1: Short title, extent and commencement
- Section 2: Definitions
- Section 3: Ordinance not to derogate from other laws
- Section 4: Establishment of the Corporation
- Section 5: Board and its Powers
- Section 6: Composition of the Board
- Section 7: Chairman of the Board
- Section 8: Chief Executive of the Corporation
- Section 9: Committees
- Section 10: Verification Committees
- Section 11: Guidelines for Corporation and the Governor State Bank
- Section 12: Administration Committee
- Section 13: Members, officers and servants of the Corporation
- Section 14: Meeting of the Board and the Administration Committee
- Section 15: Qualifications and disqualifications of directors
- Section 16: Employees of the Corporation to be public servants
- Section 17: Indemnity of members, directors, officers or servants
- Section 18: Business which the Corporation can transact
- Section 19: Corporation not to be a banking company
- Section 20: Financial Institutions to which the provisions of this Ordinance shall apply
- Section 21: Consideration for transfer of nonperforming assets
- Section 22: Bonds issued by the Corporation
- Section 23: Certain rights and remedies
- Section 24: Powers of the Corporation to seek assistance
- Section 25: Corporation Fund
- Section 26: Accounts and audit
- Section 27: Reserve fund
- Section 28: Budget Statement
- Section 29: Annual report to the Federal Government
- Section 30: Power of Federal Government to make rules
- Section 31: Power of the Board to make regulations
- Section 32: Rights and remedies available to Corporation
- Section 33: Rights and remedies not exhaustive
- Section 34: Exemption from taxes
- Section 35: Liquidation of the Corporation
- Section 36: Limitation of liability
- Section 37: Right of recovery as arrears of land revenue
- Section 38: Power to obtain information and documents etc
- Section 39: Removal of difficulties
- SCHEDULE: SCHEDULE
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