[1]THE BANK OF PUNJAB (AMENDMENT) ACT 1997

(Pb. Act VIII of 1997)

[18 June 1997]

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

Preamble.— Whereas it is expedient further 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 1997.

      (2)  It shall come into force at once.

2.   Amendment of Section 4 of Act XII of 1989.— In the Bank of Punjab Act 1989 (XII of 1989), in section 4, in sub-section (1), for the words “five hundred million rupees divided into fifty million ordinary shares”, the words “one thousand million rupees divided into one hundred million ordinary shares” shall be substituted.

3.   Repeal.— The Bank of Punjab (Amendment) Ordinance 1997 (XVIII of 1997) is hereby repealed.

 



[1]This Act was passed by the Punjab Assembly on 14th June, 1997; assented to by the Governor of the Punjab on 16th June, 1997; and, was published in the Punjab Gazette (Extraordinary), dated 18th June, 1997, page 869.