1'-6'

rm'srEiEDl..I#

d,fu oia1frc of fahidrn

@
EXTRAORDINAFY
PUBLISHED BY AUTHOFITY

ISLAMABAD, MONDAY, A?RIL 27, 1992

PART I
Acts, Ordinrm€s, Presideot's Orders end Regulrtiom

GOVERNMENT OF PAKISTAN
MINISTRY OF LAW, AND PARLIAMENTAR,Y AFFAIRS

(taw and Justice Dlvlsion)

Islamabad, the 27th April, 1992

No. F. 2{1)/9-Pub.-The following Ordinanc€ made by the President is hereby

published for general information :-
ORDINANCE No. VII oF 1992

AN

ORDINANCE

further to amend the Hydrogenated Vegetable Oil Industy ( Contol and

development ) Act, 1973

WHEREAS it is expedient further to amend the Hydrogenated Vegetable Oil

Industry (Control 3nd Development) Act, 1973 (LXV of 1973), for the purpose
hereinafter appearing ;

AND WHEREAS the National Assembly is not in session and the President is
satisfied tliat circumstances exist which render it n'ecessary to take immediate action;
(87)
Ps59 Ex. caz,, hbc: Rr, oo.zo
I 8E
u8 THE GAZETTE OF PAKISTAN, EXTRA., APRIL,27' 1992 [PART I

Now. THEREFoRE. in exercise ofthe powers conferred by clause (l ) of Article 89

of the Constitution of the Islamic Republic of Pakistan. the President is pleased to
make and promulgate the following Ordinance:

l. Short title rnd commemement.-{ I ) This Ordinance may be called the

Hydrogenated Vegetable Oil Industry (Control and Development) (Amendment)
Ordinance. 1992.

(2) It shall come into forc€ at once.

2. Amendment of section 5A, Act LXV of 1973.-ln the Hydrogenated
vegetable Oil Industry (Control and DeveloPment) Act. 1973 (LXV of 1973), in section
5A.-
(i) in sub-section (2), for the full stop at the end a colon shall be substituted
and thereafter the following proviso and explanation shall be added,
namely:

"Provided that it shall not be necessary to make such an offer to the

previous management in case the highest bid has been made by the
management group of the employees of such establishment'

Explnnution.-Ir, this sub-section and in sub-section (4), "management

group of the employees" means such management group of the
employees as has. in the opinion of the Federal Government, been
lormally constituted as such.": and

(ii) for sub-section (4) the following shall be substituted, namely:-

"(4) Notwithstanding anything contained in sub-sections ( I )' (2) and (3)' the
Federal Government may, in its discretion, if it considers it necessary in
the public interest so to do. transfer the shares or proprietary interests in
respect of any such establishment to the manag€ment group of the
employees of such establishment at a price. and on terms and conditions,
settled between the Federal Government and such management group.

(5) In case of ransfer of shares or proprietary interests in rtspect of a

managed establishment under sub-sections (2), (3) or (4), the provisions of
this Act shall cease to apply to such establishment."

GHULAM ISHAQ KHAN,

President.

MR, JUSTICE
IHSAN.UL.HAQ CHAUHDRY,
SecretarY.

..I TEOAY tH€ MANAGER, PR INTING CONPORATION OF PAXISTAN ?FC33, ISLAMAIAO

ruILIIXEO BY TH€ MATIAGER OF PUELICATIOIIS, KABACHI.