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 National Bank of Pakistan (NBP) Ordinance, 1949: • the Bank — the National Bank of Pakistan constituted by this Ordinance • the Central Board — the Central Board of Directors of the Bank • Local Board — a Local Board of Members at Karachi, Dacca or Lahore • Director — a Director for the time being of the Central Board • Member — a Member for the time being of a Local Board • general meeting — the annual meeting of the shareholders of the Bank • local meeting — the annual meeting of the shareholders whose names are registered in a branch register • prescribed — prescribed by bye-laws made under this Ordinance; 1[(1) “Managing Director” means the Managing Director of the Bank;] • special meeting — a meeting of the shareholders of the Bank convened for transacting some particular business specified in the notice convening the meeting • special local meeting — a meeting of the shareholders whose names are registered in a branch register, convened for transacting some particular business specified in the notice convening the meeting • special resolution — a resolution passed at a special meeting; and • special local resolution — a resolution passed at a special local meeting. CHAPTER II ESTABLISHMENT, INCORPORATION AND SHARE CAPITAL OF THE NATIONAL BANK OF PAKISTAN 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.___In this Ordinance, unless there is anything repugnant in the subject or context,— (a) “the Bank” means the National Bank of Pakistan constituted by this Ordinance; (b) “the Central Board” means the Central Board of Directors of the Bank; (c) “Local Board” means a Local Board of Members at Karachi, Dacca or Lahore; (d) “Director” means a Director for the time being of the Central Board; (e) “Member” means a Member for the time being of a Local Board; (f) “dividend” includes bonus; (g) “goods” includes bullion, wears and merchandise; (h) “general meeting” means the annual meeting of the shareholders of the Bank; (i) “local meeting” means the annual meeting of the shareholders whose names are registered in a branch register; (j) “meeting” includes an adjourned holding of a meeting; 1 The Ordinance has been applied__ (i) to Baluchistan, with effect from the 9th day of November, 1949, see Gaz. of P., 1952, Pt. I, p. 150; (ii) in the Federated Areas of Baluchistan, see ibid., 1953, Part I, p. 152; and (iii) extended to the Leased Areas of Baluchistan, by the Leased Areas (Laws) Order, 1950 (G. G. O. 3 of 1950). It has also been extended to___ (a) the State of Bahawalpur, subject to certain modifications, see the Bahawalpur (Federal Laws) (Extension) Order, 1952 (G. G. O. 11 of 1952); (b) the Baluchistan States Union, see the Baluchistan States Union (Federal Laws) (Extension) Order, 1953 (G. G. O. 4 of 1953); and (c) the Khairpur State, seethe Khaipur (Federal Laws) (Extension) Order, 1953 (G. G. O. 5 of 1953). The Act has been and shall be deemed to have been brought into force in Gwadur with effect from the 8th September, 1958, by the Gwadur (Application of Central Laws) Ordinance 1960 (37 of 1960), s. 2. The Acts/Ordinance and the rules, notifications and orders made thereunder, have been applied to the whole of the Federally Administered Tribal Areas or to the parts of those Areas to which they do not already apply, by Regulation No. I of 1975, s. 2 and the Schedule. The Act/Ordinance and the rules, notifications and order made thereunder, as in force in N.W.F.P. before the 15th July, 1975, have been applied to the Districts of Chitral, Dir, Swat and Malakand Protected area of the N.W.F.P. by Regulation No. III of 1975, s. 2 and the Sch. 2 Subs. by the Central Laws (Statute Reform) Ordinance, (21 of 1960), s. 3., and 2nd Sch., for the original sub-section (2) (with effect from the 14th October, 1955). (k) “prescribed” means prescribed by bye-laws made under this Ordinance; 1[(1) “Managing Director” means the Managing Director of the Bank;] (m) “special meeting” means a meeting of the shareholders of the Bank convened for transacting some particular business specified in the notice convening the meeting; (n) “special local meeting” means a meeting of the shareholders whose names are registered in a branch register, convened for transacting some particular business specified in the notice convening the meeting; (o) “special resolution” means a resolution passed at a special meeting; and (p) “special local resolution” means a resolution passed at a special local meeting. CHAPTER II ESTABLISHMENT, INCORPORATION AND SHARE CAPITAL OF THE NATIONAL BANK OF PAKISTAN

Effective date: 1949-01-01

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