[1]THE BANK OF PUNJAB (AMENDMENT) ACT, 1992

(Pb. Act V of 1992)

[4 June 1992]

An Act further to amend the Bank of Punjab Act, 1989 (XII of 1989)

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 Punjab (Amendment) Act, 1992.

      (2)  It shall come into force at once.

2.   Amendment of Sections 4 & 7 of Act XII of 1989.— In the Bank of Punjab Act, 1989 (XII of 1989),—

      (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   Repeal.— The Bank of Punjab (Amendment) Ordinance, 1992 (XVI of 1992) is hereby repealed.

 



[1]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.