(1) The Government, may, by notification, constitute a Governing Council which shall consist of the following members:
Sl no. Members Designation (a) Chief Minister Chairman (b) Commerce & Industry Minister Vice-Chairman (c) All Cabinet Ministers Member (d) Chief Secretary to the Govt. of Meghalaya Member (e) Senior most Secretary to the Govt. of Meghalaya Planning investment t Promotion & Sustainable Development Department, Member Secretary (f) Senior most Secretary to Government of Meghalaya, Commerce & Industries Department Member (g) Senior most Secretary to Government of Meghalaya, Finance Department Member (h) Senior most Secretary to Government of Meghalaya, Revenue and Disaster Management Department Member (i) Such number of member or members as may be notified by the Government from time to time Member
(2) The Governing Council shall be the Competent Authority at the State level and exercise the following powers and perform the following functions, namely: - (a) Subject to the overall control and superintendence of the Government, the Governing Council shall provide overall policy guidance and directions under this Act; (b) The Governing Council shall be responsible for setting the strategic directions and guidance for the UIP clearances and industries facilitation required for its effective functioning; (c) The orders and decisions of the Governing Council shall be binding upon all Government Departments, Authorities and Agencies and such Departments, Authorities and Agencies shall issue requisite clearances and permissions within the stipulated time limit: provided that the relevant provisions of the applicable Acts and Rules of the Government or Central Government for investment clearances and permissions are complied by the investor or applicant; (d) The Governing Council may assign or revoke its functions or powers to High-Powered Committee, State Investment committee, District Investment Committee and Chief Executive Officer as prescribed by rules under the Act for effective implementation of this Act; (e) The Governing Council shall meet to carry out its functions, but it shall meet at least once annually or as needed at such place, as the Chairman may decide, for performance review of the HighPowered Committee, State Investment committee, District Investment Committee, and Invest Meghalaya Authority; and for providing necessary recommendations and approvals if required. The Governing Council may also consider matters referred by the High-Powered Committee, Invest Meghalaya Authority, and the Government, and take appropriate decisions; (f) To invite competent authorities or expert or officials from other departments, who are not members of the Council, as special invitees for any meeting as desired by the Chairman of the Council; (g) It shall be responsible for approval of any borrowings or hypothecation of any assets of the Authority, if required; (h) It shall approve the annual budget, accounts and reports including the audit reports of the Authority.