(1) The Government may, by notification in the Gazette, constitute with effect from such dale as may be specified therein, a Board to be called “the Kerala Infrastructure Investment Fund Board” for the administration of the fund and to supervise or carry out the activities financed from the fund
(2) The Board shall be a body corporate by the name aforesaid, having perpetual succession and a common seal and shall by the said name sue or be sued.
*(2A) The headquarters of the Board shall be Thiruvananthapuram.;
**(3) The Board shall consist of the following members, namely: -
(a) Chief Minister : Chairperson
(b) Minister for Finance : Vice-Chairperson
(c) Vice-Chairman, State Planning : Member Board
(d) Chief Secretary : Member
(e) Secretary (Law) : Member
(f) Secretary (Finance) : Member
(g) Secretary (Finance-Resources) : Member
(h) Seven independent members who are experts, who have worked in an institution of national repute in one or more of the areas of Finance.
Banking, Economics : Members
(i) Chief Executive Officer : Member Secretary * Inserted vide Act 15 of 2016, notification no. 15841/Leg. A1/2016/Law dated 05.11.2016.
** Substituted vide Act 15 of 2016, notification no. 15841/Leg. A1/2016/Law dated 05.11.2016.
Explanation: -For the purposes of the provisions of this Act the term ‘Secretary' shall denote Additional Chief Secretary, Principal Secretary, Secretary or Special Secretary to Government, as the case may be;
*(4) The Board may, at the discretion, of the Chairperson seek the participation of any other Minister or Secretary of any Department whose project is under consideration of the Board for financing;
**