Section 14: Managing Director — Investment Corporation of Pakistan Ordinance, 1966

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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14. Managing Director.__ (1) The Managing Director shall be appointed on such salary and terms and conditions as the 1[Federal Government] may determine. (2) The Managing Director shall, unless the 1[Federal Government] otherwise directs, hold office for a term of five years which the 1[Federal Government] may, from time to time, extend. (3) The Managing Director shall be the chief executive of the Corporation and shall subject to the provisions of this Ordinance, the rules and regulations be responsible for the management of the affairs of the Corporation. He shall be a wholetime officer and shall in addition to his functions as the chief executive exercise such powers and perform such functions as may be assigned to him by the Board: Provided that the 1[Federal Government] may utilise the services of the Managing Director for any other work.

Effective date: 1966-01-01

Related sections

Section 13: Chairman Section 15: Qualifications and disqualifications of Directors Section 12: Board Section 16: Executive Committee Section 11: Direction and superintendence Section 17: Annual general meetings and special meetings of the shareholders

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