N.-W.F.P. Small Industries Development Board Act 1972

No comments yet. Be the first to comment

ACT II OF 1973

NORTH-WEST FRONTIER PROVINCE SMALL INDUSTRIES DEVELOPMENT BOARD ACT, 1972

An Act to establish a Small Industries Development Board in the Province of North-West Frontier

[Gazette of N.-W. F. P., Extraordinary, 12th January 1973]

**No. Legis. 1 (34)/72.-**The following Act of the Provincial Assembly of the North-West Frontier Province, having been assented to by the Governor of the North-West Frontier Province, on the 12th January 1973, is hereby published for general information:-

**Preamble.---**Whereas it is expedient to establish a Board to take over the assets and liabilities of West Pakistan Small Industries Corporation and for promoting the development of industries in the Province of North West Frontier, with particular reference to small and cottage industries ;

It is hereby enacted as follows:-

CHAPTER I-PRELIMINARY

1. Short tile, extent and commencement.---(1) This Act may be called the North-West Frontier Province Small Industries Development Board Act, 1972.

(2) It extends to the whole of the North-West Frontier Province, except the Tribal Areas.

(3) It shall come into force at once.

**2. Definitions.---**In this Act, unless the context otherwise requires, the following expressions shall have the meanings hereby respectively assigned to them, that is to say-

(a) "Board" means the Board of Directors established under this Act ;

(b) "borrower" means any person or persons or body of persons, whether incorporated or not, to whom a loan is made by the Board or by a Scheduled Bank on the guarantee of the Board under this Act, and includes the successors and assignees of such person or persons;

(c) "Chairman" means the Chairman of the Board;

(d) "Cottage Industry" means an industry which is carried on wholly or primarily with the help of the members of a family as a whole-time or part-time occupation ;

(e) "Director" means a Director of the Board and includes the Chairman ;

(f) "Government" means the Government of the North-West Frontier Province ;

(g) "Governor" means the Governor of the North-West Frontier Province ;

(h) "other industry" means an industry, other than cottage or small industry, approved by the Governor and set up or established in a small industries estate ;

(i) "prescribed" means prescribed by rules or regulations

(j) "regulations" means regulations made under this Act ;

(k) "rules" means rules made under this Act ;

(l) "Scheduled Bank" means a bank for the time being included in the list of banks maintained under subsection (1) of section 37 of the State Bank of Pakistan Act, 1956 ;

(m) "small industries estate" means an estate established or managed by the Board to provide land and facilities for the establishment and development of small, cottage and other industries ;

(n) "small industry" means an industry engaged in the handicrafts or manufacture of consumer or producer goods, the vale of the total fixed assets whereof (including land) does not exceed such limit as Government ,may from time to time fix; and

(o) "State Bank" means the State Bank of Pakistan.

CHAPTER II-CONSTITUTION OF TAB BOARD

3. Constitution of the Board.-(1) As soon as may be after the com mencement of this Act, there shall .be established a Board to be known as the North-West Frontier Province Small Industries Development Board.

(2) The Board shall be a body corporate, shall have the power to acquire and hold property, both movable and immovable, subject to the provisions of this Act, and shall have perpetual succession and a common seal and shall by the said name sue and be sued.

(3) The Board shall consist of such number of Directors, not less than four, as may be appointed by the Governor.

(4) The General Manager of the Board shall act as Secretary to the Board.

(5) The head office of the Board shall be at Peshawar.

4. Management.---(1) For effectively discharging its functions, the Board shall, subject to the provisions of this Act, have all powers necessary for the purpose.

(2) The Board in discharging its functions shall act on commercial considerations and shall be guided by such directions as the Governor may from time to time give.

(3) If the Board fails to carry out any direction given as aforesaid, the Governor may, for reasons to be recorded in writing, remove the Directors, and notwithstanding anything contained in section 3 (3) and section 5 appoint persons in their place to be Directors temporarily until a fresh Board is constituted in accordance with the provisions of this Act.

(4) The Governor may suspend the execution of any such resolution or order of the Board as, in the opinion of the Governor, contravenes the directions mentioned in subsection (2) or prohibit the doing of any act which is to be done or is being done in pursuance of the said resolution or order, or, if the act has been accomplished, order its rectification in such manner as may be specified.

**5. Terms of office and conditions of appointment of Director.---**Each Director shall-

(a) be appointed on part-time basis;

(b) perform such duties as may be prescribed by regulations or as the Board may assign-to him ;

(c) subject to the provisions of sections 4 (3), 8, 9, 10 and 11, bold office for a term of three years, and may be appointed thereafter for a further term or terms of such duration as the Governor may, in appointing him. thereto, determine ; and

(d) receive such salary and allowances as the Governor may determine.

6. Chairman.-(1) The Governor shall appoint one of the Directors to be the Chairman of the Board.

(2) Subject to his continuing to hold office as Director, the Chairman shall bold office as Chairman for a term of three years, and. subject as aforesaid-

(a) shall remain in office as Chairman thereafter until his successor in that office is appointed ; and

(b) may be appointed to hold that office, for a further term or terms as the Governor may, in appointing him thereto, determine.

**7. Appointment of General Manager.-**Government may appoint a General Manager of the Board, who shall be the Chief Executive of the Board and shall exercise such powers and perform such duties as Government may, from time to time, specify or the Board may under section 16 delegate.

**8. Terms of office of first Chairman and Directors.-**Notwithstanding anything contained in sections 3 (3), 5 and 6, when the Board is first constituted, the Chairman and Directors shall hold office for such term, not exceeding three years, as the Governor may determine.

**9. Disqualification of Directors.-**No person shall be appointed as shall continue to be a Director, who-

(a) is or at any time has been convicted of an offence involving moral., turpitude ; or .

(b) is or at any time has been adjudicated insolvent ; or

(c) is found a lunatic or becomes of unsound mind ;

(d) is or at any time has been disqualified for employment in or dismissed from the service of Pakistan ; or

(e) is under the age of twenty-one years ;

(f) is not a citizen of Pakistan.

**10. Removal of Chairman and Directors.---**The Governor may, by order in writing, remove the Chairman or a Director, if he-

(a) refuses or fails to discharge or becomes, in the opinion of the Governor, incapable of discharging his responsibilities under this Act 2; or

(b) has, in the opinion of the Governor, abused his position as Chairman or Director ; or

(c) has knowingly acquired or continued to hold, without the permission in writing of the Governor, directly or indirectly, or through a partner, any share or interest in any contract or employment with, by or on behalf of the Board, or in any property, which in his knowledge, is likely to benefit or has benefited as a result of the operations of the Board ; or

(d) has, in the opinion of the Governor, violated the declaration of:: fidelity and secrecy provided under section 13 ; or

(e) has absented himself from three consecutive meetings of the Board without the leave of the Governor in the case of the Chairman and of the Chairman in the case of a Director.

**11. Resignation by Chairman or Director.---**Notwithstanding anything contained in this Apt, the Chairman or a Director may, at any time before the expiry of his term, upon three months' notice, resign his office, or upon similar notice, be removed from office by the Governor without assigning any reason.

12. Appointment of Officers, etc.---(1) The Board may, subject to such general or special orders as the Governor may from to time give, appoint such officers, advisers and employees as it considers necessary for the efficient performance of its functions, on such terms and conditions as may be prescribed.

(2) The Board may employ such officers, experts, advisers, consultants and other persons as may be transferred to it by Government on such terms and conditions as may be determined by Government.

(3) The Chairman, In cases of urgency, may appoint such officers, advisers, consultants and other employees as may be necessary ;

Provided that every appointment made under this subsection shall be reported to the Board without unnecessary delay, and shall, not continue beyond six months unless approved by the Board.

13. Declaration of fidelity sad secrecy.---(1) Every Director, adviser, officer or other employee of the Board before entering upon his duties shall make such declaration of fidelity and secrecy as may be prescribed by regulations.

(2) Any adviser, officer or other employee of the Board, who, in the opinion of the Governor or a person authorised by the Governor in this behalf, has violated the declaration of fidelity or secrecy made by him under subsection (1), shall be liable, after being given a reasonable opportunity of showing cause against the action proposed to be taken with respect to him, to be forthwith removed from his office or post.

**14. Financial, technical and advisory committees.----**The Board may constitute such financial, technical and advisory committees as may be necessary for carrying out the purposes of this Act.

15. Indemnity.-(1) Every Director, adviser, officer or other employee of the Board shall be indemnified by the Board against all losses and expenses incurred by him in the discharge of his duties, except such as are caused by his own wilful act or default.

(2) A Director shall not be personally responsible for the acts of any other Director, or of any adviser, officer or employee of the Board which he could not have reasonably prevented by the due exercise of his powers and functions under this Act, and the rules and regulations for any loss or expense resulting to the Board by reason of the insufficiency or deficiency in value of or title to any property or security acquired or taken on behalf of the Board, for the wrongful act of any person under a liability to the Board or for anything done by him in good faith in the execution of the duties of his office.

**16. Delegation of Powers.----**The Board may by general or special order delegate to the Chairman, Director, General Manager, Officer or employee of the Board any of its powers, duties, or functions under this Act, the rules and regulations, subject to such conditions as it may deem fit to impose.

17. Meetings of the Board.----(1) The meetings of the Board shall be held at such times and at such places as may be prescribed by regula tions:

Provided that at least one meeting shall be held in a month:

Provided further that until regulations are made in this behalf, such meetings shall be held at such times and at such places as may be determined by the Chairman.

(2) The quorum necessary for transacting business at a meeting of the Board shall be three, if the Board consists of five or more Directors, and two if the number is less.

(3) Each Director, including the Chairman, shall have one vote but in the event of an equality of votes, the Chairman shall have a second or casting vote.

(4) The meeting of the Board shall be presided over by the Chairman and, in his absence, by the senior-most Director present at the meeting.

(5) No act or proceeding of the Board shall be invalid merely on the ground of the existence of any vacancy in or any defect in the constitution of the Board.

(6) The minutes of every meeting, stating among other things the names of the Directors present, shall be drawn up and recorded in a book to be kept for the purpose and shall be signed by the person presiding over the meeting, and such book shall at all reasonable times and without charge be open to Inspection by any Director.

(7) If the Governor so directs in any case, the Chairman shall forward to him copies of all papers which were laid before the Board for considera tion at a meeting.

(8) Government may require the Chairman to furnish it with-

(a) any return, statement, estimate, statistics or other information regarding any matter under the control of the Board ; or

(b) a report on any such matter ; or

(c) a copy of any document in the charge of the Chairman.

The Chairman shall comply with any such requisition without any undue delay.

18. Power of Board to associate other Persons.-(1) The Board may associate with itself in such manner, on such terms and for such period as it may deem fit any person whose assistance or advice it may desire in carrying out any of the purposes of this Act.

(2) A person associated under subsection (1) for any purpose shall have a right to take part in the discussions of the Board relating to that purpose but shall not have a right to vote and shall not be deemed to be a Director for that or any other purpose.

CHAPTER III-POWERS, DUTIES AND FUNCTIONS

OF THE BOARD

19. Functions of the Board.-(1) In accordance with the provisions of this Act, the Board shall take such measures as it thinks fit to render assistance in the establishment and development of cottage, small and other industries.

(2) In particular and without prejudice to the generality of tile foregoing powers, the Board may, in order to promote and carry out the purposes of this Act

(a) give loans to borrowers for the purpose of small, cottage and other industries;

(b) furnish guarantees to the Scheduled Banks for the repayment of loans to borrowers for the development of industries and to share losses on account of bad debts in accordance with the agreement in this regard between the Board and those Banks:

Provided that the loans given under clause (a) or guaranteed under clause (b) shall be repayable within a period not exceeding twenty years.

**Explanation.--**Loans made by the Board may be in kind or in cash or !n the form of buildings, developed plots or lands in the small industries estate or machinery and equipment on lease or on hire-purchase basis.

**20. Security for loans or subscriptions.--**No loan shall be made by the Board until it is secured by pledge, mortgage, hypothecation or assignment of such property, movable or immovable, and of such value in proportion to the loan as the Board may deem fit:

Provided that when the loan is made to an individual and does not exceed two thousand rupees in the aggregate, it may be secured by bond with at least two solvent sureties.

**21. Interest on loans.-**The rate of interest chargeable on loans made by the Board may be determined and notified by Government from Mime to time.

22. Limit of loans.---(1) The Board shall not make loans or subscrip tions to or furnish any guarantee in respect of any small or cottage Industries located outside the small industries estate in excess of the following aggregate limits, namely-

(a) when made to an individual, rupees five lacs;

(b) when made to any borrower other than an individual, rupees fifteen lacs.

(2) The Board shall not make loans or furnish guarantees in the case of industries located in the small industries estate in excess of such limits as may be notified by Government from time to time.

**23. Relaxation of loans.---**Government may, from time to time, on the recommendation of the Board relax the aggregate limit of loans, subscriptions and guarantees provided under section 22.

**24. Power to impose conditions.---**At the time of entering into any transaction, the Board may impose such conditions as it may think necessary or expedient for protecting its own interests and for securing that the loan, underwriting or other aid shall be put to the best use.

25. Power to demand payment of entire sum.---(1) Notwithstanding anything In any agreement or In any law to the contrary, if-

(a) it is found that the loan was obtained by information supplied by the borrower which was false or misleading In any material particular; or

(b) the borrower is found to have committed a breach of the terms of his agreement with the Board relating to the loan ; or

(c) the loan or any part of it is found to have been utilized otherwise than for the purpose for which It was made; or

(d) there is a reasonable apprehension that the borrower will be unable to pay his debts or may go into liquidation; or

(e) the property pledged, mortgaged, hypothecated or assigned to the Board as security for the loan is not kept in a proper condition by the borrower or the property has depreciated in value by more than the prescribed percentage and the borrower is unable to give additional security to the satisfaction of the Board; or

(f) without the permission of the Board, machinery or other equip ment is removed from the premises of the borrower's industrial establish ment without being replaced; or

(g) without the permission of the Board, building, land or other property mortgaged as security for the loan is in any way disposed of or charged by the borrower; or

(h) for any other reason. it is necessary in the opinion of the Board to do so in order to protect the interests of the Board;

any officer authorised generally or specially in this behalf by the Board may by notice, call upon the borrower to pay up the entire sum then remaining unpaid by the borrower in respect of the loan and the interest payable thereon, or any lesser sum, as the case may be, or require the borrower to surrender the building machinery and equipment or other materials given to him by way of loan or require him to comply with such directions as the Board may consider necessary to give in order to safeguard its interests.

(2) Such notice shall specify the time within which the borrower is required to make the payment or to surrender the factory building, machinery and equipment or materials or to carry out the directions given and shall also contain a warning that if the borrower fails to pay the amount demanded or to surrender the factory building, machinery and equipment or materials or to carry out the directions given, as the case may be, within the time specified, the Board may issue a certificate certifying the borrower to be a defaulter and certifying the sum due from the borrower to be recoverable as arrears of land revenue.

26. Certification of sums recoverable.---(1) If the borrower fails to make the payment demanded or to carry out the directions given in a notice under section 25 within the time specified in the notice, the Board may issue a certificate, in the prescribed form and manner certifying the borrower to be a defaulter and certifying the aggregate sum, including interest, payable by the borrower to the Board on and upto the date of the certificate and the rate at which interest was payable thereon thereafter.

(2) Subject to the provisions of subsection (3) a certificate issued under subsection (1) shall be conclusive evidence that the sums certified in the certificate together with further interest at the rate certified were recoverable by the Board from the borrower.

(3) The borrower may within fifteen days of the issue of the certificate under subsection (1) appeal to Government in this behalf against the certificate and thereupon Government may canal or modify the certificate.

(4) Notwithstanding anything in any agreement or in any law to the contrary-

(a) the Board shall have the option to recover the amount due from a borrower either from him or from his surety and a certificate Issued under subsection (1) shall also be executable against the surety as if he himself were borrower ;

(b) any transfer of properties pledged, mortgaged, hypothecated or assigned by the borrower as security for the loan, so long as the loan or the interest thereon or any part thereof remains unpaid to the Board, shall be void as against the Board and such properties shall be liable to attachment and sale as if no such transfer had taken place ;

(c) where a loan has been advanced in the form of building or machinery and equipment on hire-purchase basis and the borrower has committed a breach of the terms and conditions of the agreement or other, wise violated any provision of this Act, or failed to comely with the notice issued under subsection (1), the Board shall be entitled to take possession of the building or machinery and equipment, as the case may be;

(d) all sums due to the Board from a borrower or any other person shall be recoverable as arrears of land revenue.

27. Loans in foreign currency.---(1) The Board may, with the previous approval of Government and the Federal Government, and on such terms and conditions as may be approved by Government, borrow in foreign currency from the International Bank for Reconstruction and Development or otherwise moneys required for the 'development of small, cottage and other industries. In the case of loan secured for the purpose of section 19, the Board may pledge, mortgage, hypothecate or assign to the said Bank or other lender ail or any part of security taken by the Board for the loan granted in foreign currency.

(2) All loans obtained in foreign currency shall be repayable either-

(a) in the currency in which they are obtained; or

(b) in any other currency which is agreed upon by the loan giving agency, Government and the Federal Government ; or

(c) in Pakistan currency at the rate of exchange prevailing at the date of repayment.

**28. Other functions of the Board.----**The Board shall also be responsible for-

(a) preparing and submitting schemes to Government for the develop ment of cottage, small and other industries. Such schemes may include schemes for research and mechanization in respect of cottage and small industries;

(b) giving effect to schemes approved by appropriate means;

(c) laying down policy for the promotion of small industries in the Province ;

(d) sponsoring industries to be set up in the small industries estate;

(e) taking over and running schemes, projects and training institutions .as may be transferred to the Board by Government;

(f ) organising co-operative societies in furtherance of the purposes of this Act;

(g) taking appropriate measures for integration of small industries with large industries ;

(h) undertaking census and surveys of cottage, small and other industries;

(i) organising trade associations and taking other appropriate measures for promoting and marketing the products of cottage and small industries;

(j) organising fairs, pavilions, sales and display of products of cottage and small industries;

(k) establishing service centres and common facility centres for specific industries or groups of industries;

(l) establishing, in special cases and with the prior approval of the Governor, small and cottage industries in less developed areas;

(m) establishing small industries estates;

(n) establishing artisan colonies, design centres, workshops, institutes. for promotion and development of handicrafts

(o) taking appropriate means for promotion and development of sericulture;

(p) procuring and distributing to cottage and small industries, raw materials, machinery and spare parts;

(q) establishing institutes for the promotion and development of cottage, small and other industries;

(r) maintaining and running depots for the supply of raw material and for the purchase and sale of finished goods from cottage and small industries and project run by the Board;

(s) introducing better means of production and new designs, including proto-types;

(t) formulating and implementing schemes for training of artisans and small Industrialists,

(u) arranging for grading and standardization of products of small and cottage industries ;

(v) working out entitlements of raw materials of cottage, small and other industries;

(w) sanctioning, balancing, modernising, etc., of cottage, small and, other industrial units in accordance with the instructions of Government or in exercise of powers that may be delegated in this behalf by Government;

(x) undertaking such other functions, measures or steps as may be directed by Government.

29. Board deemed to be a bank for purposes of Act XVIII of 1891.----- The Board shall be deemed to be a bank for the purposes of the Bankers' Books Evidence Act, 1891.

CHAPTER-IV

FINANCE

30. Board Fund.---(1) There shall be a fund to be known as the "Board; Fund vested in the Board, which shall be utilised by the Board to meet charges in connection with its functions under this Act including salaries and, other remuneration of the Directors and employees of the Board.

(2) The Board Fund shall consist of-

(a) grants made by Government;

(b) revolving fund placed by Government at the disposal of the Board for preparing feasibility studies for the schemes;

(c) loans obtained from Government;

(d) grants made by the local bodies;

(e) sale proceeds of raw materials and finished goods ;

(f) loans obtained by the Board from the Scheduled Banks;

(g) foreign loans obtained under the provisions of section 21;

(h) charges for the plots of land and, other facilities provided on the, small industries estate;

(i) all other sums received by the Board.

**31. Board to be deemed to be a local authority.----**The Board shall be deemed to be a local authority under the Local Authorities Loans Act, 1914 (Act No. IX of 1914), for the purposes of borrowing money under the said Act, and the making and execution of any scheme under this Act shall be deemed to be a work which such authority is legally authorised to carry out.

32. Custody and investment of Board Fund.---(1) All moneys at the credit of the Board shall be kept as prescribed.

(2) Nothing in subsection (1) shall be deemed to preclude the Board from investing any such moneys which are not required for immediate expenditure in any of the securities described in section 20 of the Trusts Act, 1882 (Act No. II of 1882), or placing them in fixed deposit with a bank approved by Government or in such other manner as may be approved by Government.

**33. Maintenance of accounts.---**The Board shall maintain complete and, accurate books of accounts in such form as may be prescribed.

34. Audit.-----(1) The accounts of the Board shall be audited by auditors who shall be Chartered Accountants within the meaning of the Chartered Accountants Ordinance, 1961 (Ord. No. X of 1961). and appointed with the approval of Government on such remuneration as may be fixed, and such remuneration shall be paid by the Board.

(2) Notwithstanding the audit provided for in subsection (1), the Governor shall appoint a special auditor to audit or cause to be audited the accounts of the Board and to hold or cause to be held a test audit of the undertakings owned by the Board, and in the event of test audit disclosing Irregularities the special auditor may carry out or cause to be carried out. such further audit as he considers necessary.

35. Reports to be furnished so Government.---(1) The Board shall furnish to Government as far as possible within four months of the close of the financial year an audited statement in the prescribed form of its assets and, liabilities of commercial undertakings and transactions as they stand at the close of that year together a with a profit and loss account for the year and a full report on the working of the Board during the year, and copies of the said statement, account and report shall be published in the official: Gazette.

(2) The Board shall submit to Government its proposals for the next ensuing financial year at such time and in such manner as may be prescribed.

CHAPTER V-MISCELLANEOUS

**36. Winding up.-----**No provision of law relating to the winding up of companies and corporations shall apply to the Board and the Board shall not be wound up except by order of the Governor and in such manner as .he may direct.

37. Power to make rues.----(1) Government may, by notification in the official Gazette, make rules for carrying out the purposes of this Act.

(2) In particular and without prejudice to the generality of the forego ing powers, such rules may provide for-

(a) the manner of keeping accounts of the Board;

(b) the recruitment of officers, advisers and employees of the Board;

(c) the terms and conditions of service of the officers, advisers and ,employees of the Board, including the function of the advisers;

(d) the borrowings by the Board;

(e) the date by which, and the form in which the annual budget statement of the Board shall be submitted in each year;

(f) the procedure for appropriation and re-appropriation of moneys at the credit of the Board;

(g) the form and manner in which and the authorities to whom returns, report or statements shall be submitted ; and

(h) such other matters relating to the administration of the affairs of the Board as Government may think fit to regulate by rules.

38. Powers to make regulations.---(1) The Board may, with the previous approval of Government, make regulations to provide for all matters not provided for in the rules, for which provision is necessary or expedient for carrying out the purposes of this Act and the rules.

(2) In particular and without prejudice to the generality of the foregoing powers, such regulations may provide for the-

(a) meetings of the Board ;

(b) investment of the Board Funds;

(c) sale or transfer of industrial units and other immovable property of the Board ;

(d) the constitution, powers and terms and conditions of committees constituted under section 14 ;

(e) building bye-laws, agreements and lease deeds pertaining to small industrial estates ;

(f) conditions subject to which the Board may grant loans ; and

(g) form and manner of determining the sufficiency of security taken for .loans or for guaranteeing the loans.

**39. Succession.---**As from the coming Into force of this Act-

(a) all business, projects, undertakings and properties of the Corpora tion transferred to the North-West Frontier Province by, under, or by virtue of the Federal law, shall pass by succession to Government or the Board, as the case may be ;

(d) all debt, liabilities and obligations Incurred, contracts entered into, and all matters and things engaged to be done by, with or for, and all suits and other proceedings by or against, the Corporation shall, in so far as they stand transferred to the North-West Frontier Province, by, under, or by virtue of the Federal law, be deemed to be debts, liabilities and obligations ,incurred, contracts entered into or, as the case may be, matters and things engaged to be done by, with or for, and suits and other proceedings by or against. Government or the Board, as the case may be ;

(c) all officers and servants of the Corporation transferred to the North-West Frontier Province by or under the Federal law shall stand transferred to, and be appointed by, Government or the Board as the case may be, in such manner as the Governor may by order determine; provided that such persons shall, notwithstanding the provisions of section 12, be appointed on such terms and conditions as may be determined by or under the Federal law.

**Explanation 1.---**In this section and section 40, "Corporation" means the West Pakistan Small Industries Corporation dissolved under the West Pakistan Small Industries Corporation (Dissolution) Ordinance, 1972 (Ord. No. XXIV of 1972).

**Explanation 2.----**In this section, "Federal law" means the West Pakistan Small Industries Corporation (Dissolution) Ordinance, 1972 (Ord. No. XXIV of 1972).

**40. Supplemental power.---**For the purposes of carrying into effect the provisions of this Act, the Governor may in such manner as he may con sider necessary or expedient provide for-

(a) entrusting to a person the functions of the Board till such time the Board is established under this Act;

(b) the removal of difficulties arising out of, or in connection with, the dissolution, or the transfer of assets and liabilities, of the Corporation;

(e) other matters supplemental or incidental to, or consequential upon the dissolution of the Corporation.

41. Repeal and saving.---(1) The North-West Frontier Province Small Industries Development Board Ordinance, 1972 (N.-W. F. P., Ord. No. XVI of 1972), is hereby repealed.

(2) Notwithstanding the repeal of the North-West Frontier Province Small Industries Development Board Ordinance, 1972, everything done, action taken, Board established, obligations or liabilities incurred. rights, assets or property acquired, persons appointed or authorised, jurisdiction or Dowers conferred or notifications or orders issued under any of the provisions of the said Ordinance or rules or regulations made thereunder, if not Incon sistent with the provisions of this Act or rules or regulations made under this Act, shall be continued, and, so far as may be, be deemed to have been respectively done, taken, established, incurred, acquired, appointed or authorised, conferred and issued under this Act, and any document referring to any of the provisions of the said Ordinance, rules or regulations, shall so far as stay be, be considered to refer to the corresponding provisions of this Act or rules or regulations made under this Act.

Discussion

    Be the first to comment and start a discussion!

© 2020 PakistanLaw.pk, All rights reserved.