Section 5: Board and its Powers — Corporate Industrial Restructuring Corporation Ordinance, 2000

Expired / historical — retained for reference — 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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5. Board and its Powers.—(1) The overall direction, management, control and superintendence of the affairs of the Corporation shall vest in the Board which may exercise all such powers and do all such acts and things as may be exercised and done by the Corporation as set out in section 18. (2) In discharging its functions, the Board shall act with prudence and sound business and financial considerations for and on behalf of all persons who have beneficial interest as creditors or otherwise are beneficiaries, including the financial institutions and Government entity.

Effective date: 2000-01-01

Related sections

Section 4: Establishment of the Corporation Section 6: Composition of the Board Section 3: Ordinance not to derogate from other laws Section 7: Chairman of the Board Section 2: Definitions Section 8: Chief Executive of the Corporation

Version corporate-industrial-restructuring-corporation-ordinance-2000~PK-FED~base · Source-traceable official reference. LawHub does not modify the official record.