Legislative Dictionary - A

Judicial Dictionary


Legislative Dictionary


Abandoned Property

Share |

CategoryA
TitleAbandoned Property
Details

Abandoned Property:

“Abandoned Property” means any property owned by any person who is not present in Bangladesh or whose whereabouts are not known or who has ceased to occupy, supervise or manage in person his property, including—

(i) any property owned by any person who is a citizen of a state which at any time after the 25th day of March, 1971, was at war with or engaged in military operations against the People's Republic of Bangladesh;
(ii) any property taken over under the Bangladesh (Taking over of Control and Management of Industrial and Commercial Concerns) Order, 1972 (Acting President's Order No. 1 of 1972), but does not include-
(a) any property the owner of which is residing outside Bangladesh for any purpose which, in the opinion of the Government, is not prejudicial to the interest of Bangladesh;
(b)any property which is in the possession or under control of the Government under any law for the time being in force.

Explanation.- "Person who is not present in Bangladesh" includes any body of persons or company constituted or incorporated in the territory or under the laws of a State which at any time after the 25th day of March, 1971, was at war with or engaged in military operations against the People's Republic of Bangladesh.

[See, Article 2(1), the Bangladesh Abandoned Property (Control, Management and Disposal) Order, 1972 (President’s Order No. 16 of 1972)].

Created OnDecember 19, 2010, 11:15 AM
Hits1943