Section 7: Continuation of service in the company — Regional Development Finance Corporation and Small Business Finance Corporation (Amalgamation and Conversion) Ordinance, 2001

Current legal status not independently verified — Source: Pakistan Code (single official PDF, 2026-08-21). Whether this provision is still in force has not been independently verified.

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7. Continuation of service in the company.___ (1) All permanent employees of the R.D.F.C. and S.B.F.C., who were continuously in the service of the R.D.F.C. or, as the case may be, S.B.F.C. for a period of one year immediately before the effective date shall stand transferred to, and become the employees of, the company as of the effective date on the same terms and conditions and shall be subject to the same rules and regulations as were applicable to them before the effective date. (2) No person transferred to the company pursuant to subsection (1) shall be entitled to any compensation as a consequence of transfer to the company.

Effective date: 2001-01-01

Related sections

Section 6: Continuation of taking deposits and other business Section 8: Contracts and proceedings Section 5: Transfer and vesting of assets, contracts, liabilities, proceedings and undertakings Section 9: Bar to jurisdiction Section 4: Registration of the company Section 10: Indemnity

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