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  "title": "Managed Cement Establishments (Payment to Corporation) Ordinance, 1979",
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  "text": "Page 1 of 3  \r\n \r\n \r\nTHE MANAGED CEMENT ESTABLISHMENTS (PAYMENT TO \r\nCORPORATION) ORDINANCE, 1979 \r\n \r\n \r\n \r\n        \r\n \r\n \r\n          \r\n     CONTENTS \r\n                       \r\n     PREAMBLE \r\n \r\n1 Short title, extent and commencement. \r\n2 Definitions. \r\n3 Payment by units to Corporation. \r\n4 Allowance to be made for amounts paid by a unit for purpose of income­tax \r\n5 Cement Development Fund \r\n6 Power to make rules \r\n \r\n\r\n \r\n \r\nPage 2 of 3  \r\nTHE MANAGED CEMENT ESTABLISHMENTS (PAYMENT TO \r\nCORPORATION) ORDINANCE, 1979. \r\n \r\nORDINANCE NO. II OF 1979 \r\n[15th January, 1979] \r\n \r\nAn Ordinance to provide for the payment of certain amount by managed cement establishments to \r\nthe State Cement Corporation of Pakistan. \r\n \r\nWHEREAS it is expedient to provide for the payment of certain amount by managed \r\ncement establishments to the State Cement Corporation of Pakistan and for matters connected \r\ntherewith; \r\n \r\nAND WHEREAS the President is satisfied that circumstances exist which render it \r\nnecessary to take immediate action; \r\n \r\nNOW, THEREFORE, in pursuance of the Proclamation of the fifth day of July, 1977, read \r\nwith the Laws  (Continuance in Force) Order, 1977, (C.M.L.A. Order No. 1 of 1977) , and in \r\nexercise of all powers enabling him in that behalf, the President is pleased to make and promulgate \r\nthe following Ordinance:— \r\n \r\n \r\n1. Short title, extent and commencement.—(1) This Ordinance may be called the \r\nManaged Cement Establishments (Payment to Corporation) Ordinance, 1979. \r\n \r\n(2) It extends to the whole of Pakistan. \r\n \r\n(3) It shall come into force at once. \r\n \r\n \r\n2.  Definitions. In this Ordinance, unless there is anything repugnant in the subject or \r\ncontext,— \r\n \r\n(a) “Corporation” means the State Cement Corporation of Pakistan, registered \r\nunder the   Companies Act, 1913 (VII of 1913); and \r\n \r\n(b) \"unit” means a company the management of which has been transferred or \r\nmay be transferred to  the Corporation under Article 7E of the Economic \r\nReforms Order, 1972 (P.O. No. 1 of 1972), a  project and a managed \r\ncompany vested in the Corporation under section 4 of the West Pakistan  \r\nIndustrial Development Corporation (Transfer of Projects and Companies) \r\nAct, 1974 ( XXVIII o f 1974), and the Associated Cement vested in the \r\nCorporation under section 3 of the Associated  Cement (Vesting) Act, 1974 \r\n(VII of 1975 ) or any other unit set up or controlled by the State Cement \r\nCorporation of Pakistan. \r\n \r\n3. Payment by units to Corporation. Every unit shall pay to the Corporation in respect of \r\neach metric ton     of cement produced and sold by it after the twenty­fourth  day of March, 1976, such \r\namount as the Federal  Government may, by notification 1 in the official Gazette, fix; and different \r\namounts may be fixed for different  periods. \r\n \r\n 4. Allowance to be made for amounts paid by a unit for purpose of income­tax.  \r\nNotwithstanding anything contained in the \r\n2\r\n[Income­tax Ordinance, 1979 ( XXXI of 1979 )] the \r\namount paid by a unit to the  Corporation in pursuance of section 3 shall be an expenditure for \r\nwhich allowance is to be made in computing   profits or gains of that unit under \r\n2\r\n[section 23 of that \r\nOrdinance]. \r\n1 For such notification, see S.R.O. 55(J)/80, dated 8­1­81, Gaz. of P., 1981, Ext.,Pt. II, pp. 3—12. \r\n2 Subs. by the Federal Laws (Revision and Declaration) Ordinance, 1981 (27. of 1981), s. 3 and Sch II. \r\n \r\n \r\nPage 3 of 3  \r\n5. Cement Development Fund.  The proceeds of the amounts paid by the units shall be \r\ncredited to a fund to be known as the Cement Development Fund which shall be administered in  \r\nsuch manner, and used by the Corporation in such development scheme 1[or other purposes, \r\nincluding payment of a subsidy to a unit, that may be in the interest of the cement industry owned by \r\nthe state], as may be prescribed. \r\n \r\n6. Power to make rules. —(1) The Federal Government may, by notification in the official  \r\nGazette, make rules for carrying out the purposes of this Ordinance. \r\n \r\n(2) In particular and without prejudice to the generality of the foregoing power, such \r\nrules may provide for— \r\n \r\n (a) the manner and time of payment by the units; and \r\n \r\n(b) the maintenance of the accounts of the Cement Development Fund, \r\ninvestment of the  Fund and its use in development schemes. \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n1 Ins. by the Managed Cement Establishments (Payment to Corporation) (Amdt.) Ordinance, 1982 (22 of 1982). s. 2.",
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