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Financial Loan Court (Amendment) Act, 1994

Act No.2 of 1994

An Act made to further amend the Financial Loan Court Act, 1990

Whereas it is expedient to further amend the Financial Loan Court Act, 1990 (Act No.4 of 1990) for carrying out the purposes mentioned below;

Now, therefore, it is enacted as follows:-

1. Short title and commencement.- (1) This Act may be called the Financial Loan Court (Amendment) Act, 1994.
(2) It shall be deemed to have come into force on 13th January, 1994/30th Paush, 1400, respectively.

2. Amendment of section 2 of Act No.4 of 1990.- In clause (a) of section 2 of the Financial Loan Court Act, 1990 (Act No.4 of 1990),-

i) for sub-clause (2) shall be substituted the following sub-clause (2), namely:-
"(2) banking companies established under the Banking Companies Act, 1991 (Act No.14 of 1991)";
ii) after sub-clause (5) shall be inserted the following sub-clause (5A), namely:-
"(5A) the Bangladesh Agricultural Bank and the Rajshahi Agricultural Development Bank;" and
iii) for sub-clause (6) shall be substituted the following sub-clause (6), namely:-
"(6) financial institutions licenced under the Financial Institutions Act, 1993 (Act No.27 of 1993);"

4. Repeal and savings.- (1) The Financial Loan Court (Amendment) Ordinance, 1994 (Ordinance No.2, 1994) stands herewith repealed.
(2) Notwithstanding such repeal, any action done or measure taken under the Financial Loan Court Act, 1990 (Act No.4 of 1990) amended by the repealed Ordinance shall be deemed to have been done or taken under the said Financial Loan Court Act amended by this Act.