Amendment status not verified — confirm the current text below against the official source.
Constitution of State Investment Promotion Board. (1) There shall be State Investment Promotion Boardunder the Chairmanship of the Development Commissioner in which Principal Secretaries of Industries, Finance, Commercial Taxes, Forest and Environment, Energy, Labour Resources, Urban Development & Housing and Revenue & Land Reforms will be the members. Principal Secretary Industries shall be the member secretary of the Board. The State Government shall nominate five members to this Board two of which shall be representatives from the Industry. (2) The following shall be the functions and powers of the State Investment Promotion Board.- (a) All proposals placed before it by the Secretariat of the State Board shall be approved or appropriate decisionshall be taken on the proposal; (b) The State Board shall meet atleast once a month. (c) It shall guide and advise the Department on Bihar State Industrial Investment Policy. (d) State Board in each meeting shall also review the progress in the working of the Secretariat of the State Investment Promotion Board and shall give appropriate instructions to ensure speedy processing of investment proposals. (e) The state board shall recommend action against the competent authority if the competent authority has not carried the prescribed responsibility under this act.