Modaraba Companies and Modaraba (Floatation and Control) (Amendment) Act 1985

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ACT IV OF 1985

MODARABA COMPANIES AND MODARABA (FLOATATION AND CONTROL) (AMENDMENT) ACT, 1985

An Act to amend the Modaraba Companies and Modaraba (Floatation

and Control) Ordinance, 1980

[Gazette of Pakistan, Extraordinary, Part I, 27th July, 1985]

The following Act of Majlis-e-Shoora (Parliament) received the assent of the President on the 11^th^ July, 1985, and is hereby published for general information :-

Whereas it is expedient to amend the Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980 (XXXI of 1980), for the purposes hereinafter appearing ;

It is hereby enacted as follows :-

1. Short title and commencement.----- (1) This Act may be called the Modaraba Companies and Modaraba (Floatation and Control) (Amend ment) Act, 1985.

(2) It shall come into force at once.

2. Amendment of section 19, Ordinance XXXI of 1980.---- In the Modaraba Companies and Modaraba (Floatation -and Control) Ordinance, 1980 (XXXI of 1980), hereinafter referred to as the said Ordinance, in section 19, after subsection (4), the following new subsection shall be added namely :-

"(5) An appeal preferred under subsection (4) shall be disposed of by the Federal Government after giving the appellant an opportunity of being heard.".

3. Amendment of section 22, Ordinance XXXI of 1980.--- In the said Ordinance, in section 22, after subsection (2), the following new subsection may be added, namely :-

"(3) An appeal preferred under subsection (2) shall be disposed of by the Federal Government after giving the appellant an opportunity of being heard.".

**4. Repeal.---**The Modaraba Companies and Modaraba (Floatation and Control) (Amendment) Ordinance, 1985 (XIX of 1985), is hereby repealed.

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