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Section 11

The Punjab Bureau of Investment Promotion Act, 2016State Act of Punjab · Act 32 of 2016

(1) The Bureau shall be financed by the Government by way of an annual Grant-in-Aid.

(2) The Bureau shall receive such fee or charges on the proposals processed by it, as may be prescribed by the Board of Governors.

(3) The Bureau may maintain a separate bank account of its receipts and expenditure.

(4) The accounts of the Bureau shall be audited annually by the statutory and government auditors.

(5) The Bureau shall finalize its quarterly and annual receipts and expenditure accounts within thirty days and sixty days, respectively from the close of the relevant quarter/year.

(6) The delegation of financial powers shall be such, as may be Meetings.

Financing of the Bureau.

Officers and employees of t he Bur eau .

approved by the Executive Committee from time to time.

12. If any difficulty arises in proper discharge of functions, the Chief Executive Officer shall make a reference to the Executive Committee with suggestions/ proposals to remove such difficulties and the decision of the Executive Committee in this regard shall be binding, subject to the ratification by the Board of Governors.

13. The Government shall, if so required, have the power to issue policy directions to the Bureau on the matters assigned to it and all such directions shall be binding on the Bureau.

14. The Board of Governors may delegate any of its powers to the Executive Commit tee or the Chief Executive Officer, as the case may be.

Where this provision sits

ActThe Punjab Bureau of Investment Promotion Act, 2016
Section11
JurisdictionState of Punjab
StatusIn force as published by the source

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