Section 85: Transactions may be terminated

1) The Liquidator may terminate the following transactions of the bank or financial institution within six months of the date of the order issued by the court for mandatory liquidation of the bank or financial institution:-

(a) Any contract concluded by the bank or financial institution concerning employment,

(b) Any contract concluded for any services involving the bank or financial institution as a party,

(c) All functions and contracts being carried out by the bank or financial institution as in the capacity of a trustee,

(d) Any regular functions or business of the bank or financial institution or branches of the bank or financial institution according to need and circumstances,

(e) Any liabilities said to be borne by the bank or financial institution without any limit,

(f) Other functions or proceedings as prescribed by the Rastra Bank.

2) For the transactions terminated pursuant to sub-section (1), no any type of additional amount or compensation may be claimed other than the due amount to be paid or liability to be borne by the bank or financial institution till the date of termination of the transaction.