Pakistan (Punjab) Legislation

THE PROVINCIAL INDUSTRIAL DEVELOPMENT CORPORATION (WEST PAKISTAN) (AMENDMENT) ACT, 1967

(W.P. Act X of 1967)

Sections

1. Short title.

2. Amendment of section 19 of Ordinance XXXVIII of 1962.

3. Amendment of section 20 of Ordinance XXXVIII of 1962.

4. Addition of section 21-A in Ordinance XXXVIII of 1962.

^[1]THE PROVINCIAL INDUSTRIAL DEVELOPMENT CORPORATION (WEST PAKISTAN) (AMENDMENT) ACT, 1967

(W.P. Act X of 1967)

[21 July 1967]

An Act to amend the Provincial Industrial Development Corporation (West Pakistan) Ordinance, 1962

Preamble.-- WHEREAS it is expedient to amend the Provincial Industrial Development Corporation (West Pakistan) Ordinance, 1962 (No. XXXVIII of 1962) in the manner hereinafter appearing;

It is hereby enacted as follows:-

1. Short title.-- This Act may be called the Provincial Industrial Development Corporation (West Pakistan) (Amendment) Act, 1967.

2. Amendment of section 19 of Ordinance XXXVIII of 1962.-- In section 19 of the Provincial Industrial Development Corporation (West Pakistan) Ordinance, 1962, after sub-section (5), the following sub-section shall be added, namely:-

"(6) A statement of accounts of the Corporation and the report of the Auditor-General on the said accounts together with the report of the Auditor-General on account of the undertakings and the companies referred to in sub-section (3), shall be furnished to Government by the Corporation after the end of every financial year".

3. Amendment of section 20 of Ordinance XXXVIII of 1962.-- Section 20 of the Provincial Industrial Development Corporation (West Pakistan) Ordinance, 1962, shall be renumbered as sub-section (1) and thereafter the following sub-section shall be added, namely:-

"(2) The annual report referred to in sub-section (1) shall, as soon as possible, be laid by Government before the Provincial Assembly of West Pakistan".

4. Addition of section 21-A in Ordinance XXXVIII of 1962.-- After section 21 of the Provincial Industrial Development Corporation (West Pakistan) Ordinance, 1962, the following new section shall be added, namely:-

"21-A. (1) The annual statement of accounts referred to in section 18, together with the audit report and test audit report of the Auditor-General on the accounts of the Corporation, undertakings and companies referred to in section 19 shall be placed by Government before the Provincial Assembly of West Pakistan as soon as possible after they are received, and the Provincial Assembly shall refer the same to its Committee on Public Accounts for scrutiny.

(2) The Committee on Public Accounts shall scrutinize and examine the reports referred to it under sub-section (1) in the same manner as, and shall in respect thereof perform the same functions and exercise the same powers as are required by it to be performed and exercised in respect of appropriation account of the Provincial Government and the report of the Comptroller and Auditor-General of Pakistan thereon".