The Pakistan Refugees Rehabilitation Finance Corporation (Dissolution) Ordinance, 1980

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     THE PAKISTAN REFUGEES REHABILITATION FINANCE
       CORPORATION (DISSOLUTION) ORDINANCE, 1980




                                        CONTENTS
1.   Short title and commencement

2.   Definitions

3.   Transfer of undertaking, etc., of the Corporation

4.   Dissolution of the Corporation

5.   Supplementary powers




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                    THE PAKISTAN REFUGEES REHABILITATION FINANCE
                      CORPORATION (DISSOLUTION) ORDINANCE, 1980
                                                       ORDINANCE No. I of 1980
                                                                                                         [7th January, 1980]

         An Ordinance to provide for the dissolution of the Pakistan Refugees Rehabilitation Finance
                                                Corporation.

       WHEREAS it is expedient to provide for the dissolution of the Pakistan Refugees
Rehabilitation Finance Corporation, and for matters ancillary thereto;

        AND WHEREAS the President is satisfied that circumstances exist which render it necessary
to take immediate action ;

        NOW, THEREFORE, in pursuance of the Proclamation of the fifth day of July, 1977, read
with the Laws (Continuance in Force) Order, 1977 (C.M.L.A. Order No. I of 1977), and in exercise
of all powers enabling him in that behalf, the President is pleased to make and promulgate the
following Ordinance :—
      1. Short title and commencement.—(1) This Ordinance may be called the Pakistan
Refugees Rehabilitation Finance Corporation (Dissolution) Ordinance, 1980.
              (2) It shall come into force at once.

       2. Definitions. In this Ordinance, unless there is anything repugnant in the subject or
context,—
              (a)    “Corporation” mean the Pakistan Refugees Rehabilitation Finance
                     Corporation established under the Pakistan Refugees Rehabilitation Finance
                     Corporation Ordinance, 1959 (II of 1960) ; and
                          (b)        “undertakings and properties” shall include loans, assets, rights, authorities,
                                     powers, properties, both movable and immovable, including lands, leases,
                                     leaseholds, reserve fund investments, shares, book debts, and all rights,
                                     interests and benefits in assignable contracts and choses in action.

        3. Transfer of undertaking, etc., of the Corporation. Notwithstanding anything contained
in the Pakistan Refugees Rehabilitation Finance Corporation Ordinance, 1959 (II of 1960) or in any
law, agreement or contract for the time being in force, the Federal Government may, by order, 1direct
that,—

                          (a)        the undertakings and properties of the Corporation shall be transferred to such
                                     body or authority as it may think fit, on such date, in such manner and to such
                                     extent as may be specified in the order, and the undertakings and properties so
                                     transferred shall be carried on by, and vest in the body or authority concerned ;
                                     and

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1
    For such Order, see S.R.0:499(I)/80, dated 13-5-80, Gaz. of P., 1980, Extra., Pt. II. pp. 605-606.




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                          (b)         the officers, advisers and employees of the Corporation shall be transferred to,
                                      and appointed by, such body or authority as aforesaid, in such manner and on
                                      such terms and conditions as may be specified in the order.

       4. Dissolution of the Corporation.—(1) As soon as may be after the order under section 3
has issued, the Federal Government may, by notification1 in the official Gazette, direct that the
Corporation shall be dissolved on such date as may be specified in the notification, and thereupon the
Corporation shall stand dissolved.

              (2) Upon the dissolution of the Corporation under sub-section (1),—

                          (a)         the Pakistan Refugees Rehabilitation Finance Corporation Ordinance, 1959 (II
                                      of 1960) shall stand repealed ;

                          (b)         all debts, liabilities and obligations incurred by the Corporation before its
                                      dissolution shall be deemed to be debts, liabilities and obligations incurred by
                                      the body or authority to which the undertakings and properties of the
                                      Corporation are transferred under section 3 ;

                          (c)         all contracts entered into, and all matters and things engaged to be done, by,
                                      with or for the Corporation before its dissolution shall be deemed to be
                                      contracts entered into, and matters and things engaged to be done by, with or
                                      for such body or authority as aforesaid ; and

                          (d)         all suits and other legal proceedings instituted by or against the Corporation
                                      before its dissolution shall be deemed to be suits and legal proceedings
                                      instituted by or against such body or authority as aforesaid.

      5. Supplementary powers. Without prejudice to the foregoing provisions, the Federal
Government may, in such manner as it may consider necessary or expedient, provide for ,—

                          (a)         the removal of difficulties arising out of, or in connection with, the dissolution
                                      of the Corporation or in effectively carrying out the purposes of this
                                      Ordinance;

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




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1
    For such notification, see S.R.O. 500(I)/80, dated 13-5-80, Gaz. of P., 1980, Extra., Pt. II p. 606.



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