Section 4Section 4

s. 4

4 (1) On the commencement of this Order, there shall be established a Sangstha to be called the Bangladesh Shilpa Rin Sangstha for the purposes of this Order. (2) The Sangstha shall be a body corporate having perpetual succession and a common seal with power, subject to the provisions of this Order, to acquire, hold and dispose of property, both movable and immovable, and to contract, and shall by the said name sue and be sued. [ (3) The Sangstha shall be deemed to be a banking company for the purposes of ব্যাংক কোম্পানী আইন, ১৯৯১ (১৯৯১ সনের ১৪ নং আইন) and Bangladesh Bank Order, 1972 (P. O. No. 127 of 1972) and any other law for the time being in force relating to banking companies.]

1. 3. Clause (3) was added by section 2 of the Bangladesh Shilpa Rin Sangstha (Amendment) Act, 1993 (Act No. IV of 1993)