Law: Companies Ordinance, 1984

Section: 160

(a) Textile Export Quota Textile Export Quota for the year 1994 Notification S.R.O. No.166(1)/92, dated 7 3 1992 Notification S.R.O. ~No.228(1)/94, dated 8 3 1994 Procedure for allocation of textile export quota Two Notifications infield Notification S.R.O: No.228(I)/94, dated 8 3 1994, was issued in super . session of the earlier Notification S.R.O. No.166(I)/92, dated 7 3 1992, for determining entitlement for allocation of Textile Export Quota for the year 1994, the Notification dated 7 3 1992 was not in existence with effect from 8 3 1994, thus the procedure for the allocation of the quota for the year 1994 had to be followed as per later Notification dated 8 3 1994. (b) Interpretation of statutes Words employed in a statute Interpretation of such words Each word employed in a statute has to be read and understood in its ordinary meaning without assigning special meaning to any part thereof to avoid inconsistency in its different parts and also to ensure harmony therein. (c) Notification Time bound Notification Rescinding of such Notification by Competent Authority In time bound Notification, no doubt, at times becomes difficult for the Competent Authority to rescind before the expiry of such period particularly when claim of vested right is pleaded but the Government can overcome such hurdle by exercising authority of review of the Policy if the same has been retained by it in the same Notification simultaneously caring for the rights of the beneficiaries. (d) Textile Export quota Textile Export Quota for the year 1994 Notification S.R.O. No.166(I)/92, dated 7 3 1992 Notification S.R.O. No.228(I)/94, dated 8 3 1994 Procedure for allocation of textile export quota Changing the procedure on the recommendation of Pakistan Readymade Garments Manufacturers and Exporters Association Plea raised by the appellants was that the policy was against the doctrine of Promissory Estoppel Validity Where in changing the procedure for allocating Textile Quota, Federal Government exercised jurisdiction under S.13 of Notification S.R.O. No.166(I)/92, dated 7 3 1992, such action of the Government could not be annulled by invoking doctrine of Promissory Estoppel Change in the…

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