Section 15: Constitution of Local Boards — National Bank of Pakistan (NBP) Ordinance, 1949

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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15. Constitution of Local Boards.___A Local Board shall consist of the following members, namely:___ (a) the Managing Director 6[* * *]: Provided that in the event of the inability of 7[Managing Director] to attend the meeting of a Local Board 8[he] may nominate an officer of the Bank to attend as an ex-officio Member; (b) one Member appointed by the Central Board from amongst the Direc tors elected by the shareholders registered in the branch register of that area; (c) two Members appointed by the 5[Federal Government] from the area in which the Local Board is established; (d) 9[three] Members elected in a local or special local me eting from amongst themselves by the shareholders registered in the branch register of that area.

Effective date: 1949-01-01

Related sections

Section 14: Constitution of the Central Board Section 16: Managing Director and Deputy Managing Directors Section 13: Local Boards Section 17: Qualifications and disqualifications of Directors and Members Section 12: Central Board Section 18: Removal of Directors and Members

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