THE BANK OF
(Pb. Act V of 1992)
[4 June 1992]
An Act further to amend the Bank of
Preamble.— Whereas it is expedient to amend the Bank of Punjab Act, 1989 (XII of 1989) in the manner hereinafter appearing;
It is hereby enacted as follows:-
1. Short title and
commencement.— (1) This Act may be called the Bank of
(2) It shall come into force at once.
2. Amendment of Sections 4 &
7 of Act XII of 1989.— In the Bank of
(a) in section 4, in sub-section (1), for the words “two hundred million rupees divided into twenty million ordinary shares”, the words “five hundred million rupees divided into fifty million ordinary shares” shall be substituted; and
(b) in section 7, for the words “sixty percent”, the words “fifty-one percent” shall be substituted.
3. Repeal.— The Bank of
This Act was passed by the Punjab Assembly on 31st May, 1992; assented to by the Governor of the Punjab on 2nd June, 1992; and, was published in the Punjab Gazette (Extraordinary), dated 4th June, 1992, Pages 2903-M to 2903-N.