000811

The Gazette of Pakistan
ISLAMABAD, THURSDAY, AUGUST 17, 2000

PART II
Statutory Notifications (S.R.O.)
GOVERNMENT OF PAKISTAN FINANCE DIVISION
(Internal Finance Wing)
NOTIFICATION
Islamabad, the 11th August, 2000

S.R.O. 569(I)/2000.-- In exercise of the powers conferred by section 93 of the Banking Companies Ordinance, 1962 (LVII of 1962), and in supersession of its Notification No. 916(I)/99, dated 6th August, 1999, the Federal Government, on the recommendations of the State Bank of Pakistan, is pleased to declare that the provisions of section 15B of the said Ordinance, shall not apply to the directors of privatized banking companies and to the private banks subject to the condition that exemption under this notification shall apply to such directors of the private banks only who are not in default on account of dues owed to any bank or financial institution or on account of default in payment of any taxes as per affidavit prescribed by the State Bank of Pakistan for the purpose.

[No. F. 2(1)Bkg. IV/99.]

MUKHTAR ALI MALIK,
Deputy Secretary (Bkg.)