Oil and Gas Development Corporation (Re-Organization) Ordinance, 2001

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 THE OIL AND GAS DEVELOPMENT CORPORATION (RE-
ORGANIZATION) ORDINANCE, 2001 
 
 
 
 
CONTENTS 
1. Short title, extent and commencement 
2. Definitions 
3. Conversion of Corporation into a Company 
4. Certain special provisions with respect to Company 
5. Transfer of employees from the Corporation to the Company 
6. Removal of difficulties 
7. Repeal 
 
 
 
  
  
 

 
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THE OIL AND GAS DEVELOPMENT CORPORATION (RE-
ORGANIZATION) ORDINANCE, 2001 
ORDINANCE No. XXVIII OF 2001 
[5th July, 2001] 
An Ordinance to provide for conversion of the Oil and Gas Development Corporation into Oil and 
Gas Development Company Limited 
WHEREAS it is expedient to provide for conversion of the Oil and Gas Development  
Corporation into a public limited company for incorporation under the Companies 
Ordinance,1984(XLVII of 1984); 
AND WHEREAS,  the President is satisfied that circumstances exist which render it 
necessary to take immediate action; 
NOW, THEREFORE, in pursuance of the Proc lamation of Emergency of the fourteen th day 
of October, 1999 and the provisional Constitution Order No. 1 of 1999 read with the Provisional 
Constitution (Amendment) Order No. 9 of 1999, and in exercise of all powers enabling him in that 
behalf, the Presiden t of the Islamic Republic of Pakistan is pleased to make and promulgate the 
following Ordinance:__ 
1. Short title, extent and commencement .__ (1) This Ordinance may be called the Oil and 
Gas Development Corporation (Re-organization) Ordinance, 2001. 
(2) It extends to whole of Pakistan. 
(3) It shall come into force at once and shall be deemed to have taken effect on 23 rd October, 
1997. 
2. Definitions. __ (1) In this Ordinance, unless there is anything repugnant in the subject or 
context: 
(a) “Company” means   the   Oil   and   Gas   Development   Company   
Limited incorporated under the Companies Ordinance, 1984(XLVII of 
1984). 
(b) “Corporation” means the Oil and Gas Development Corporation 
established under the Oil and Gas Development Corporation 
Ordinance, 1961(XXX of 1961); 
(c) “effective date” means the date of incorporation of Oil and Gas 
Development Company Limited under the Companies Ordinance, 
1984(XLVII of 1984); and 
(d) “OGDC Ordinance” means the Oil and Gas Development Corporation  
Ordinance, 1961(XXXVII of 1961). 
 3.  Conversion of Corporation into a Company.____ (1)  The  Corporation  shall  be 
deemed to have been converted into a company limited by shares with effect from the date of 
 
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incorporation of the Company with the Securities, and Exchange Commission of Pakistan, under the 
Companies Ordinance, 1984(XLVII of 1984). 
(2)  In consideration of the vesting in the Company of the property, rights and liabilities of 
the Corporation, the Company shall issue to the Federal Government in the name of the Pr esident of 
the Islamic Republic of Pakistan, such number of fully paid shares as the Federal Government may 
determine. The Federal Government may, whenever it deems appropriate, transfer shares of the 
company held by it to such persons on such terms and co nditions and in such manner as it may 
determine. 
Explanation.____ For the purpose of this section- 
(a) the expression “property” includes assets, rights and entitlements of 
every description and nature wherever situated; and 
(b) the expression “liabilities” includes duties, obligations, loans, 
encumbrances, claims and charges of every description and nature, 
actual or contingent. 
(3) All orders made, proceedings taken and acts done by any authority or by any person, 
which were made, taken or done, or purported to have been made, taken or done between the twenty-
third day of October, 1997, i.e., the date of incorporation of the company and the date on which this 
Ordinance comes into force, in exercise of the powers derived from the OGDC Ordinance,  shall, 
notwithstanding any other law, be deemed always to have been validly made, taken or done and the 
same are hereby affirmed, adopted and declared to have been validly made, taken or done by the Oil 
and Gas Development Company Limited and shall have had effect accordingly. 
4. Certain special provisions with respect to Company. ___(1) For the removal of doubts, it 
is hereby clarified that, as from the date of its incorporation as a Company, the Company shall- 
(a) be deemed to own and hold all the assets,  properties, lands, 
installations, plants, machinery, equipment, concessions,  licences,   
grants   and   other   rights   of whatsoever nature owned and held by 
the Corporation as on that date, including, but no limited to all 
tangible, intangible, moveabl e and immovable properties, contractual 
and other rights, outstanding moneys claims receivables and 
investments; 
(b) be entitled to the benefit of all notifications, licences, permissions, 
sanctions, authorizations, grants, concessions, decrees and orders 
issued or granted to all subsisting in favour of the Corporation as at the 
date of its incorporation; 
(c) be deemed to have taken over all contractual rights, licences, grants, 
concessions and liabilities of the Corporation and shall be liable to pay 
and discharge all liabilities and obligations of whatsoever nature of the 
Corporation. 
(2) All suits appeals or other legal proceedings of whatever nature by, against or relating to 
the Corporation pending on the effective date in any court, tribunal or other a uthority shall be 
continued, prosecuted and enforced in the same manner and to the same extent as they would have 
 
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been continued, prosecuted and enforced by or against, the Corporation, if the conversion of the 
Corporation into the Company would not have taken place, by or against the Company, and the same 
shall not abate, be discontinued or be in any way prejudiced or affected by the provisions of this 
Ordinance. 
(3) As from the date of its incorporation, the Company shall for all material purposes be the 
successor-in interest of the Corporation, and the name of the Company shall be deemed  to  be  
substituted  for  the  name  of  the  Corporation  in  all  contracts,  agreements, licences, leases, 
grants,  concessions (including without limitation petroleu m concessions, exploration and 
prospecting licences or permits and mining leases) and all other documents of whatsoever nature 
relating to the Corporation and no objection shall be entertained by any court, tribunal or authority in 
regard to such substitut ion or on the ground that any such contract agreement or document as 
aforesaid was or is, in, or with, the name of Corporation and not the Company. 
(4) The objects of the Corporation as set out in the OGDC Ordinance so far as they are not in 
conflict with the objects contained in the memorandum of the company shall be the objects of the 
Company and notwithstanding anything contained in any law for the time being in force, the conduct 
by the Company of any such business shall not be called in question by any  person or authority in 
any manner or on any ground whatsoever, including but not limited to the ground that the Company 
was or is not eligible to commence or to carry on such business  or  that  the  Company  failed  to  
obtain  any  permission,  authoriz ation,  consent, approval or sanction under any law in force for the 
time being. 
5. Transfer of employees from the Corporation to the Company. ____(1) All officers, 
workmen or other employees of the Corporation (hereinafter referred to as the employees) sha ll, as 
on the date of incorporation of the Company, be deemed to be employees of the Company on the 
same remuneration and other conditions of service, rights and privileges including, but not limited to, 
provisions as to the pension, provident fund and gratuity, if any, and other matters as were applicable 
to them before the conversion of the Corporation into Company. 
(2) Notwithstanding anything in any law, contract, terms and conditions of service or any 
other instrument, no person transferred to the Comp any under sub-section (1) shall be entitled to any 
compensation as a consequence of transfer to the Company. 
6. Removal of difficulties. ___ If any difficulty arises in giving effect to any provision of this 
Ordinance, the Federal Government may, by  notification in the official Gazette, make such 
provisions as may appear to it to be necessary for the purpose of removing the difficulty. 
7. Repeal. ___(1) The Oil and Gas Development Corporation Ordinance, 1961(XXXVII  of 
1961) is hereby repealed.