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S.R.O.------ I/98.- In exercise of the powers conferred by sub-section (1) of section 3 of the Foreign Exchange (Temporary Restrictions) Ordinance, 1998 (VII of 1998), the Federal Government is pleased to direct that the following amendments shall be made in the Special U.S. Dollar Bonds Rules, 1998, namely:-

In the aforesaid Rules,-

(1) In rule 5 and rule 11, the word "Pakistani" shall be omitted; and

(2) after rule 11, the following new rule shall be inserted, namely:-

"11-A. If a bond is encashed within the period of one year from the date of issue no profit shall be paid to the bond holder and any profit paid shall be recovered at the time of the encashment of the bond. If a 7 year bond is encashed within 5 years of issue, the rate of return shall be the same as that of 5 year bond. If 10 year bond is encashed within 5 years of issue, the rate of return shall be the same as of 5 year bond but if is encashed after 5 years but before 7 years of issue, the rate of return shall be the same as of 7 year bond."

[No. F. 13 (1) AFA (DM)/98-804.]

Sd/-
(Sahibzada Muhammad Junaid)
Section Officer (DM)

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