Section 12: Restrictions on removal of records and documents — Banking Companies Ordinance, 1962

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12. Restrictions on removal of records and documents.-- No banking company shall remove from Pakistan to a place outside Pakistan, any of its records and documents relating to its business at its branches, whether they are functioning or not, without the prior permission in writing of the State Bank. Explanation.-- In this section the term "records" means ledgers, day books, cash books, accounts books and all other books used in the business of a banking company and the term "documents" means vouchers, cheques, bills, pay orders, securities for advances and any other documents supporting entries in the books of, or claims by or against, a banking company.

Effective date: 1962-06-07

Related sections

Section 11: Prohibition of employment of managing agents and restrictions on certain forms of employment Section 13: Requirement as to minimum paid-up capital and reserves Section 10: Disposal of non-banking assets Section 14: Regulation of paid-up capital, subscribed capital and authorized capital and voting rights of share-holders Section 9: Prohibition of trading Section 15: Election of new directors

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