Law: National Accountability Ordinance, 1999

Section: Preamble,2(r),5(r),19,31D

Law: Constitution of Pakistan, 1973

Section: 199

Law: Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)

Section: 2(e)(g)(ii)(iii),9,20,20(7),Preamble

(a) National Accountability Ordinance (XVIII of 1999)--- ----Preamble---Object, scope and purpose---National Accountability Ordinance, 1999, is a special law promulgated to eradicate corruption and corrupt practices and to hold people accused of such practices accountable---Objective of the law is to protect public money and ensure its recovery---Nature of investigation and inquiry under National Accountability Ordinance, 1999, is therefore, a kind of special dealing with offences which are deemed necessary in order to protect public money and ensure that public exchequer is not deprived of amounts due to it---Law also ensures that cases of corruption and corrupt practices are duly investigated in order to hold accountable persons involved in abuse of authority and office. (b) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----S. 2(g) & Preamble---Object, scope and purpose---Financial Institutions (Recovery of Finances) Ordinance, 2001, is a special law promulgated in year 2001 to provide effective remedy for recovery of finances extended by Banks and for fulfillment of obligation defined in S. 2(e) of Financial Institutions (Recovery of Finances) Ordinance, 2001, in favour of financial institution---Procedure has been prescribed under Financial Institutions (Recovery of Finances) Ordinance, 2001, to be adopted for the purposes of invoking jurisdiction of Banking Court for recovery of amounts due to financial institution or breach of any obligation as defined under Financial Institutions (Recovery of Finances) Ordinance, 2001---Law prescribes for a special procedure to be followed when filing a suit under Financial Institutions (Recovery of Finances) Ordinance, 2001, and also prescribes for certain offences which are triable before Banking Court---Banking Court is a specialized Court where issue of 'default' can be contested which is established for the purposes to pass and decree for recovery of outstanding amounts in cases of defaults. (c) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----S. 2(g)--- National Accountability Ordinance (XVIII of 1999), S.2(r)---"Wilful default"---Scope---Wilful default is a…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492