The Pakistan Banking (Prevention of Default and Evasion of labilities) Ordinance, 1947

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text below is the official Pakistan Code text as retrieved; whether it is still in force, or has since been amended or repealed, has not been independently checked.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 an emergency has arisen which requires measures to be taken to prevent banking concerns in Pakistan from making default in meeting their commitments and liabilities under external pressure. Now, THEREFORE, in exercise of the powers conferred by section 42 of the Government of India Act, 1935, as adapted by the Pakistan (Provisional Constitution) Order 1947, the Governor- General of Pakistan is pleased to make and promulgate the following Ordinance:___

• Section 1: Short title, extent and commencement
• Section 2: Definitions. In this Ordinance
• Section 3: No Bank to Stop payment of cheques or delivery of deposits under instructions from
• Section 4: Procedure for demanding explanations and search
• Section 5: Order to prohibit removal of assets outside Pakistan. While ordering a Bank to furnish a
• Section 6: Seizure of assets
• Section 7: Service of Orders under Section 4, 5 or 6. An order under Sections 4, 5 or 6 may be served
• Section 8: Penalties. If the Manager of a Bank:
• Section 9: Withdrawal or amendment of orders under Sections 5 and 6. On sufficient cause being
• Section 10: Bar of legal proceedings. No suit, prosecution or other legal proceedings shall lie against
• Section 11: Powers to make rules. The 2[Federal Government] may make rules for the purpose of