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Micro Finance
Suspension of a license
 
SECTION : 28 Sub-Section (1) Clause (a), (b) & (c)
 
Comments :
The substitution of the words means that the assessee shall be allowed deduction of these expenses if the purpose of the activity is for the business. Previously it was necessary that the activity should have been done for the purpose of deriving income chargeable to tax.
 
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Definitions
Scope of services broaden
Scope of Investments Enlarged
Area of operation
Minimum Capital Requirements
Licensing-Existing institutions
Suspension of a license
Audit
Extension to MFBs
Liquidity and reserves
Minimum Cash Reserve
Power to remove Directors
Power to suspend the BOD
Limitations to order by the SBP
Prosecution of Directors
Declaration of fidelity

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