Section 2: Definitions

Plain-Language Summary

A general explanation to aid understanding. The official statutory text appears below.

This section defines the following terms used in The Pakistan Insurance Corporation (Re-Organization) Ordinance, 2000: • Company — the Pakistan Reinsurance Company Limited incorporated under the Companies Ordinance, 1984; (XLVII of 1984) • Corporation — the Pakistan Insurance Corporation established under the Pakistan Insurance Corporation Act, 1952; (XXXVIII of 1952) • effective date — the date on which property, rights and liabilities of the Corporation are vested in the Company under section 3; and • shareholder — a person holding shares in the Corporation immediately before the effective date This is the official statutory text, shown as written — it is not a paraphrase or a legal opinion. Consult a verified lawyer to see how it applies to your specific situation.

2. Definitions.___ (1) In this Ordinance, unless there is anything repugnant in the subject or context,— (a) “Company” means the Pakistan Reinsurance Company Limited incorporated under the Companies Ordinance, 1984; (XLVII of 1984) (b) “Corporation” means the Pakistan Insurance Corporation established under the Pakistan Insurance Corporation Act, 1952; (XXXVIII of 1952) (c) “effective date” means the date on which property, rights and liabilities of the Corporation are vested in the Company under section 3; and (d) “shareholder” means a person holding shares in the Corporation immediately before the effective date.

Effective date: 2000-01-01

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