Justice Asif Saeed Khosa announced the split verdict against Sharif and his family.
He said the Federal Investigation Agency and the National Accountability Bureau had failed to probe the case.
Sharif will appear before the probe team, which will have to submit its report in 60 days.
A five-judge bench examined arguments presented by opposition parties who hurled corruption charges at Sharif and his family, saying they held companies in tax havens.
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