a fresh appointment made on such conditions and with such limitations as the 1[Federal Government]
may determine.
(2) Where an order has been made under sub‑section (1), the 1[Federal Government], or any
authority or person authorized by it in this behalf, shall, as soon as possible, make arrangements to
transfer, subject to such conditions as may be deemed fit, and transfer, by way of sale, in any manner
considered expedient, any right, title or interest in the under taking, or if the undertaking be a
company in the shares thereof, of any director or shareholder to any other person not acting for or on
behalf of or in collusion with such director or shareholder.
(3) Every sale under sub‑section (2) shall be subject to confirmation by the 1[Federal
Government], and such confirmation shall be notified in the official Gazette.
(4) If such undertaking as aforesaid be a company, the 1[Federal Government] may give a
direction that the shares held by every or any director or shareholder shall be seized wherever the
shares may be, for sale under sub‑section (2), in such manner that such director or share holder shall
effectively cease to hold them.
(5) Where possession has been taken under sub‑section (1), or a direction has been given in
pursuance of subsection (4), any police officer may seize any property of the undertaking or the
shares thereof, or any document relating thereto, found anywhere in Pakistan, and any Magistrate
may, by warrant, authorize any police officer not below the rank of Sub‑Inspector, to enter upon and
search for any such property, share or document in any premises where the same may be or may
reasonably be suspected to be.
1 Subs. by the Preventive Detention Laws Amendment Act, 1975 (44 of 1975), s. 2, for “Central Government”.
Page 16 of 24
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