State Bank Of Pakistan
The directors of a company by resolution passed by not less than three-fourths of the total number of directors may remove a chief executive before the expiration of his term of office. Reinsurance premia on policies issued and reinsured on or after 25th May, 1973 for sums over Rs. 3.5 lacs in respect of death risk only. Exchange facilities for reinsurance will be given only to branches or offices of insurance companies in Pakistan doing business on their own account. Such facilities will not be given to agents of non-resident companies who book business on account of the non-resident companies. Claims arising under the policies covering exports from Pakistan are payable to the shippers in cases where the proceeds have not been realised from the overseas importers. Where the payments have been received by the shippers, the claim can be paid to the overseas importers. Welcome To Hailey College Of Banking & Finance! Moreover, the continuing directors are required to take immedia