ESTABLISHMENT OF BANKING COURT
Banking Court established under the Financial Institutions (Recovery of Finances) Ordinance, 2001 (Ordinance No. XLVI of 2001).
The Federal Government may by notification in the Official Gazettee, establish as many Banking Courts as it considers necessary to exercise jurisdiction under this Ordinance, 2001 and appoint a Judge for each of such Courts and where it establishes more Banking Courts than one, it shall specify in the notification the territorial limits within which each of the Banking Courts shall exercise its jurisdiction.
Where more Banking Court than one have been established to exercise jurisdiction in the same territorial limits, the Federal Government shall define the territorial limits of each such court.
Where more Banking Court than one have been established in the same or different territorial limits, the High Court may, if it considers it expedient to do so in the interest of justice or for the convenience of the parties or of the witnesses, transfer any case from one Banking Court to another.
APPOINTMENT OF JUDGE, BANKING COURT
A Judge of Banking Court shall be appointed by the Federal Government after consultation with the Chief Justice of the High Court of the Province in which the Banking Court is established and no person shall be appointed as Judge of Banking Court unless he has been a Judge of a High Court or is or has been a District Judge.