(1) This Act may be called the Punjab Bureau of Investment Promotion Act, 2016.
(2) It shall come into force on and with effect from the date of its publication in the Official Gazette.
2. In this Act, unless the context otherwise requires, -
(a) “Board of Governors” or "BoG" means the Board of Governors of the Bureau;
(b) “Bureau” means the Punjab Bureau of Investment Promotion;
(c) “Chief Executive Officer” means the Chief Executive Officer of the Bureau;
1[(ca) “clearance” means the grant or issue of no-objection certificate, consent, allotment, approval, permission, registration, enrolment, license and the like, granted or issued by any competent authority;
(cb) "competent authority" means any individual or body of individuals or agency empowered under the relevant Act or any rules, policy, guidelines framed thereunder, to issue clearance in connection with the setting up of an industrial undertaking or 1 Inserted by Punjab Act No.15 of 2021, Section 2 Short title and commencement.
Definitions.
enterprise or such similar establishment, or expansion of existing enterprise or industrial undertaking or running an enterprise;]
(d) “entrepreneur” means an entity who decides to set up an enterprise and includes, -
(i) an individual;
(ii) a Hindu Undivided Family;
(iii) a company;
(iv) a registered firm;
(v) a Limited Liability Partnership as per the Limited Liability Partnership Act, 2008 (Central Act 6 of 2009);
(vi) an association of persons or a body of individuals, whether incorporated or not, in India or outside India;
(vii) any corporation established by or under any Central or State Act or a Government Company as defined under clause (45) of section 2 of the Companies Act, 2013 (Central Act 18 of 2013);
(viii) any body corporate incorporated by or under the laws of a country outside India; and
(ix) a co-operative society registered under any law relating to a co-operative society;
(e) "Executive Committee” or "E.C." means the Executive Committee of the Bureau;
(f) “Government” means the Government of the State of Punjab in the Department of Investment Promotion;
1[(fa) “online portal” means the Single Window Portal notified by the Government for the purpose of issuing clearance;]
(g) “policy” means any notified policy, regulation, package or programme of the Government;
(h) “prescribed” means prescribed by rules made under this Act;2[**]
(i) “section” means a section of this Act3[; and] 1 Inserted by Punjab Act No.15 of 2021, Section 2 2 Omitted by Punjab Act No.15 of 2021, Section 2 3 Substituted by Punjab Act No.15 of 2021, Section 2 1[(j) “stipulated time” means the maximum time as notified by the Government from time to time to provide clearance, or to adjudicate on any appeal presented before the Appellate Authority.]