The Bangladesh Krishi Bank Order, 1973 (President's Order)

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Preamble

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Sections/Articles

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38

38. (1) The Bank may 20[, subject to other provisions of this Order,] appoint or employ such persons as it considers necessary for the efficient performance of its functions on such terms and conditions as it may determine.(2) Every officer or other employee of the Agricultural Development Bank of Pakistan who is a citizen of Bangladesh and who owes allegiance to Bangladesh shall become, on the commencement of this Order, an officer or other employee, as the case may be, of the Bank and shall hold office in the Bank on the same terms and conditions and with the same rights and privileges as to the provident fund, gratuity, pension and other matters as were enjoyed by him immediately before such commencement and shall continue to do so unless and until his employment in the Bank is terminated or until his remuneration or terms and conditions are duly altered by the Bank:Provided that an officer or other employee may, within such time as may be specified by the Bank, exercise his option not to continue in the service of the Bank.(3) Notwithstanding anything contained in any terms and conditions of service or in any award, settlement or agreement for the time being in force, the Bank may, with the prior approval of the Government, alter the remuneration (whether by way of reduction or otherwise) and other terms and conditions of service of any officer or other employee of the Bank, and if such alteration is not acceptable to an officer or other employee, the Bank may terminate his employment by giving him compensation equivalent to three months’ remuneration in the case of a permanent officer or other employee and one month’s remuneration in the case of a temporary officer or other employee.Explanation.- The compensation to an officer or other employee under clause (3) shall be in addition to any pension, gratuity or other benefit to which the officer or other employee may be entitled under the terms and conditions of his service.(4) No officer or other employee of the Agricultural Development Bank of Pakistan whose service is, by this Order, transferred to the Bank shall, notwithstanding anything contained in any law for the time being in force, be entitled to any compensation because of such transfer.(5) Every officer or other employee of the Bank, while performing duties under this Order, shall be deemed to be public servant within the meaning of section 21 of the Penal Code (Act No. XLV of 1860).

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Footnotes

• 1

  The words “Bangladesh except the Rajshahi Division” was substituted for the word “Bangladesh” by section 35 of the Rajshahi Krishi Unnayan Bank Ordinance,1986 (Ordinance No. LVIII of 1986)

• 2

  The words “Rajshahi and Rangpur” were substituted for the word “Rajshahi” by section 41 of রাজশাহী কৃষি উন্নয়ন ব্যাংক আইন, ২০১৪ (২০১৪ সনের ১৯ নং আইন)।

• 3

  The words, commas, figures and brackets “Banking Companies Ordinance, 1962 (Ordinance No. LVII of 1962), ” were substituted for the words, commas, figures and brackets “Banking Companies (Inspection) Ordinance, 1946 (Ordinance No. IV of 1946), the Banking Companies (Control) Act, 1948 (Act No. XXII of 1948)” by section 2 and the Schedule of the Banks and Financial Institutions Laws Amendment Act, 1980 (Act No. IX of 1980)

• 4

  Article 7 was substituted by section 2 of the Bangladesh Krishi Bank (Second Amendment) Ordinance, 1983 (Ordinance No. XLIII of 1983)

• 5

  The words and comma “Chairman, Managing Director” were substituted for the words “Managing Director” by section 3 of the Bangladesh Krishi Bank (Second Amendment) Ordinance, 1983 (Ordinance No. XLIII of 1983)

• 6

  The words and comma “Chairman, Managing Director” were substituted for the words “Managing Director” by section 3 of the Bangladesh Krishi Bank (Second Amendment) Ordinance, 1983 (Ordinance No. XLIII of 1983)

• 7

  The words and comma “Chairman, Managing Director” were substituted for the words “Managing Director” by section 3 of the Bangladesh Krishi Bank (Second Amendment) Ordinance, 1983 (Ordinance No. XLIII of 1983)

• 8

  The word and comma “Chairman,” was inserted by section 2 and the Schedule of the Banks and Financial Institutions Laws Amendment Act, 1980 (Act No. IX of 1980)

• 9

  Clauses (1) and (2) were substituted by section 2 and the Schedule of the Banks and Financial Institutions Laws Amendment Act, 1980 (Act No. IX of 1980)

• 10

  The proviso was omitted by section 4 of the Bangladesh Krishi Bank (Second Amendment) Ordinance, 1983 (Ordinance No. XLIII of 1983)

• 11

  The words, brackets, letters, and figure “sub-clause (c) or sub-clause (d) of clause (1)” were substituted for the words, brackets and figures “clause (ii) or clause (iii) ” by section 6 of the Bangladesh Krishi Bank (Second Amendment) Ordinance, 1983 (Ordinance No. XLIII of 1983)

• 12

  Clause (1) was substituted by section 2 of the Bangladesh Krishi Bank (Amendment) Ordinance, 1983 (Ordinance No. VIII of 1983)

• 13

  The figure “6” was substituted for the figure “4” by section 2 of the Bangladesh Krishi Bank (Amendment) Act, 1975 (Act No. XXIX of 1975)

• 14

  Clause (5) was omitted by section 2 of the Bangladesh Krishi Bank (Amendment) Act, 1975 (Act No. XXIX of 1975)

• 15

  The words, comma, figures, brackets and letters “Bangladesh Chartered Accountants Order, 1973 (P.O. No. 2 of 1973)” were substituted for the words, comma, figures and brackets “Chartered Accountants Ordinance, 1961 (Ordinance No. X of 1961)” by section 2 and the Schedule of the Banks and Financial Institutions Laws Amendment Act, 1980 (Act No. IX of 1980)

• 16

  Existing provision of Article 26 was numbered as clause (1) by section 2 and the Schedule of the Financial Institutions Laws Amendment Ordinance, 1977 (Ordinance No. LXI of 1977)

• 17

  The commas, words, brackets and figure “, subject to the provisions of clause (2),”were inserted by section 2 and the Schedule of the Financial Institutions Laws Amendment Ordinance, 1977 (Ordinance No. LXI of 1977)

• 18

  Clause (2) was added by section 2 and the Schedule of the Financial Institutions Laws Amendment Ordinance, 1977 (Ordinance No. LXI of 1977)

• 19

  The words “a Deputy Managing Director and” were inserted by section 2 of the Bangladesh Krishi Bank (Amendment) Ordinance, 1984 (Ordinance No. LVIII of 1984)

• 20

  The commas and the words “, subject to other provisions of this Order,” were inserted by section 2 and the Schedule of the Financial Institutions Laws Amendment Ordinance, 1977 (Ordinance No. LXI of 1977)