Section 20: Stay of proceedings on order of Court. Where the Bank contemplates making with

20. Stay of proceedings on order of Court. Where the Bank contemplates making with reference to any Government security any order which it is empowered to make under this Act, and before the order is made the Bank receives from a Court in 4[Pakistan] an order to stay the making of such order, the Bank shall either— (a) hold the security together with any interest unpaid or accruing thereon until the further orders of the Court are received, or 1Subs. by the Public Debt (Central Government) (Amdt.) Ordinance, 1961 (7 of 1961), s. 7, for "the official Gazette". 2Subs. by F. A. O., 1975, Art. 2 and Table, for "Central Government". 3Subs. ibid, ss. 8, 9 and 10, for Central Government”. 4Subs. by the Central Laws (Statue Reforms) Ordinance, 1960 (21 of 1960), s. 3 and 2nd Sch. (with effect from the 14th October, 1955), for “the Provinces and the Capital of the Federation” which had been subs. by A. O., 1949, for “British India”. (b) apply to the Court to have the security transferred to the Official Trustees appointed for the Province in which such Court is situated, pending the disposal of the proceedings before the Court.

Effective date: 1944-01-01

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