Agricultural Development Bank of Pakistan (Reorganization and Conversion) (Amendment) Ordinance 2002

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AGRICULTURAL DEVELOPMENT BANK OF PAKISTAN (REORGANIZATION AND CONVERSION) (AMENDMENT)

ORDINANCE, 2002

ORDINANCE CXXXV OF 2002

An Ordinance to amend the Agricultural Development Bank of Pakistan (Reorganization and Conversion) Ordinance, 2002

[Gazette of Pakistan, Extraordinary, Part I, 26th November, 2002]

**F. No. 2(1)/2002-Pub., dated 26-11-2002.----**The following Ordinance promulgated by the President is hereby published for general information:--

Whereas it is expedient to amend the Agricultural Development Bank of Pakistan (Reorganization and Conversion) Ordinance, 2002 (LX of 2002.), for the purpose hereinafter appearing;

And whereas the National Assembly is not in session and the President is satisfied that circumstances exist which render it necessary to take immediate action;

Now, therefore, in exercise of the powers conferred by clause (1) of Article 89 of the Constitution of the Islamic Republic of Pakistan, the President is pleased to snake and promulgate the following Ordinance:--

1. Short title and commencement.-----(1) This Ordinance may be called the Agricultural Development Bank of Pakistan (Reorganization and Conversion) (Amendment) Ordinance, 2002.

(2) It shall come into force at once.

2. Amendment of section 7, Ordinance LX of 2002.----- In tine Agricultural Development Bank of Pakistan (Reorganization and Conversion) Ordinance; 2002, in section 7, after subsection (2), the following new subsection shall be added, namely:--

"(3) Notwithstanding anything contained in any other law for the time being in force, for the period of three years from the effective date all sums due to the Company shall, in addition to any other mode of recovery, be recoverable as arrears of land revenue.".

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