Section 15
General fiduciary duties
of Statutory Bodies (Financial and Accounting Procedure) Ordinance, 1995
State OrdinanceIn forceProvision 18 of 24
Section 15
—
(1)
A member of a statutory body shall at all times act honestly and use reasonable diligence in the discharge of the duties of his office.
(2)
Sections 131, 132(1), 132E and 133(1) of the Companies
Act 1965 [Act 125] shall apply to all members of a statutory body in the same way and to the same extent as they apply to a Director of a company.