Section 10: Validity of action of officers of specified offices and branches
The Banks (Transfer of Assets and Liabilities) Act, 1974 · Banking/Financial Laws · Legal status not independently verified
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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10. Validity of action of officers of specified offices and branches.—Notwithstanding any cancellation of powers delegated by the managements of the Eastern Bank Limited and the Eastern Banking Corporation Limited to the officers of the specified offices and branches, all actions taken by such officers in good faith between the 16th day of December, 1971, and the date of transfer of the undertakings of such offices and branches by virtue of section 4 shall be deemed to have been validly taken and shall have effect as if there had been no such cancellation of powers.
Effective date: 1974-01-01
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Version banks-transfer-of-assets-and-liabilities-act-1974~PK-FED~base · Source-traceable official reference. LawHub does not modify the official record.