ISLAMABAD, Sept 30: President Gen Pervez Musharraf has made and promulgated the Financial Institutions (Recovery of Finances) (Amendment) Ordinance, 2001. it will come into force at once.

The following is the text of the ordinance: An ordinance to amend the Financial Institutions (Recovery of Finances) Ordinance, 2001;

Whereas it is expedient to amend the Financial Institutions (Recovery of Finance) Ordinance, 2001 (XLVI of 2001), for the purpose hereinafter appearing:

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 Emergency of the fourteenth day of October, 1999, and the Provisional Constitution Order No.1 of 1999, read with the Provisional Constitution (Amendment) Order No.9 of 1999, and in exercise of all powers enabling him in that behalf, the President of the Islamic Republic of Pakistan is pleased to make and promulgate the following Ordinance.

Short title and commencement.- (1) This Ordinance may be called the Financial Institutions (Recovery of Finances) (Amendment) Ordinance, 2001.

(2) It shall come into force at once and shall be deemed to have taken effect on the 30th day of August, 2001.

Amendment of section 5, Ordinance XLVI of 2001.- In the Financial Institutions (Recovery of Finances) Ordinance, 2001 (XLVI of 2001), in section 5, for sub-section (7) the following shall be substituted, namely:-

“(7) The salary, allowances and other terms and conditions of service of a person appointed as a Judge of a Banking Court shall be such as the Federal Government may determine.”—NNI