Pakistan Industrial Development Corporation (Dissolution) Ordinance, 1984

This 1984 Ordinance dissolves the Pakistan Industrial Development Corporation (PIDC), a state industrial holding body, and transfers its business to a private company, Pakistan Industrial Development Corporation Limited, or to its subsidiaries. Section 4 lets the Federal Government issue an order transferring PIDC's business, projects and properties to the Company or a subsidiary on a specified date, along with transferring PIDC's shareholdings in any companies it managed or partly owned.

Section 5 ensures continuity for legal matters: existing contracts, bonds, agreements and other instruments involving PIDC remain fully enforceable against the Company or subsidiary as if they had always been the other party, and any pending court cases or other proceedings continue against the Company or subsidiary rather than being disrupted by the change.

Section 6 protects PIDC's employees — officers, advisers and workmen all automatically become employees of the Company or subsidiary on the transfer date, on terms no less favourable than before, though they cannot claim compensation or insist on keeping their exact former job title just because of the transfer.

Section 7 lets the Federal Government formally dissolve PIDC once the transfer order is in place, at which point the Pakistan Industrial Development Corporation Ordinance, 1962 (which had established PIDC) is repealed. Section 8 moves PIDC's Employees Provident Fund rights over to the Company. Section 9 bars courts from questioning any action taken under this Ordinance and protects the government, PIDC, the Company, subsidiaries and managed companies from being sued for good-faith actions. Section 3 gives this Ordinance overriding effect over any conflicting law, contract or corporate document, and section 12 allowed the government to resolve implementation difficulties, but only within one year of the Ordinance commencing.