Section 54: Power to exempt

54. Power to exempt.__ The Federal Government may, by notification in the official Gazette, exempt from the application of this Act or any provision thereof and for such period as it may specify in such notification,__ (a) any class of undertaking if such exemption is necessary in the interest of security of the State or public interest; (b) any practice or agreement arising out of and in accordance with any obligation assumed by Pakistan under any treaty, agreement or convention with any other State or States; or (c) any undertaking Which performs a sovereign function on behalf of the Federal Government or a Provincial Government.

Effective date: 2010-01-01

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