The Gazette of Pakistan Karachi Friday August 15 1952

(2) Balan e Sheet as on the 30th June 1952 and the Profit and Loss Account of the Corportion for the year together with the Auditors’ Report and the report by the Directors on the working of the Corporation during the year will be read and considered. [...] F. exercise of the powers coferred by clause (m) of sub-section (2) of section 43 of the Pakistan Industrial Finance Corporation Act 1949 (I of 1949) the Board of Directors of the Pakistan Industrial Finance Corporation with the previous sanction of the Central Government has for the purpose of giving effect to provisions of setions 29 30 and 31 of the said Act made the folloing Regu [...] (2) If the concern fa Is to comply with the notice the Board through its Managing Director shall give it notice under section 29 of the Act to hand over the management of the concern to an officer of the Corpration authorised by the Board. [...] 4. Manner of management of concerns taken over.— (1) Where the management of an industrial concern is taken over by the Board the Board shall subject to the previous approval of the Central Government prescribe the manner of management taking into cosideration the circumstances and affairs of the concern in each case. [...] (3) The management appointed by the Corporation shall if the Corporation thinks it in the public interest to do so and provided always that the concern’s liability to the Corporation is fully secured strive as far as possible to ensure the continued existence of the concern ; and for this purpose and also in order to the to matters connected with working of the concern iterest and expenses