Updated: Thursday April 17, 2014/AlKhamis Jamada El Thaniah 17, 1435/Bruhaspathivara Chaitra 27, 1936, at 03:49:51 AM

The Banking Tribunals (Validation of Orders) Ordinance, 1994

ORDINANCE XXV OF 1994

An Ordinance to validate certain orders passed by the Banking Tribunals

[Gazette of Pakistan, Extraordinary, Part I, 5th April, 1994]

No.F.2(1)/94-Pub., dated 5-4-1994.--The following Ordinance made by the President is hereby published for general information:---

Whereas it is expedient to validate certain orders passed under the Banking Tribunals (Amendment) Act, 1992 (IV of 1992), for the purpose hereinafter appearing;

And whereas the National Assembly is not in Session and the President is satisfied that circumstances exist which render it necessary to take immediate action;

Now, therefore, in exercise of the powers conferred by clause (1) of Article 89 of the Constitution of the Islamic Republic of Pakistan, the President is pleased to make and promulgate the following Ordinance:---

1. Short title, extent and commencement.---(1) This Ordinance may be called the Banking Tribunals (Validation of Orders) Ordinance, 1994.

(2) It extends to the whole of Pakistan.

(3) It shall come into force at once.

2. Validation.---Notwithstanding any order or decision of any Court, any order or judgment passed, decision or proceeding taken or recoveries made by the Banking Tribunal under the Banking Tribunals (Amendment) Act, 1992 (IV of 1992), or any appointment made or notification issued thereunder, at any time before the commencement of this Ordinance and purporting to be in exercise of the authority conferred on the Banking Tribunal under the said Act shall be deemed to have been validly made, passed or taken and shall have, and shall be deemed always to have had, effect accordingly.

 

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