Section 42Section 42

s. 42

42 In this Chapter, unless the context otherwise requires,- (a) “banking company” means the banking company as defined in [clause (cc) of article 2 of this Order] and includes the apex co-operative bank or any other banking or financial institution notified by the Government in this behalf; (b) “borrower” means any person to whom any credit limit has been sanctioned by any banking company, whether availed of or not, and includes- (i) in the case of a company or corporation, its subsidiaries; (ii) in the case of a Hindu undivided family, any member thereof or any firm in which such member is a partner; (iii) in the case of a firm, any partner thereof or any other firm in which such partner is a partner; and (iv) in the case of an individual, any firm in which such individual is a partner; (c) “credit information” means any information relating to- (i) the amounts and the nature of loans or advances and other credit facilities granted by a banking company to any borrower or class of borrowers; (ii) the nature of security taken from any borrower for credit facilities granted to him; and (iii) the guarantee furnished by a banking company for any of its customers.

1. 84. The words, brackets letters and figure “clause (cc) of article 2 of this Order” were substituted for the words, figures, brackets and comma “section 5 of the Banking Companies Ordinance, 1962 (LVII of 1962)” by section 18 of the Bangladesh Bank (Amendment) Act, 2003 (Act No. IX of 2003)