Amendment status not verified — confirm the current text below against the official source.
General Powers of the Board.— (1) Subject to the provisions of this Act and subject to special directions issued by the Government, the Board shall have all powers including incidental and ancillary powers to perform, carry out, undertake any function to promote and facilitate investment opportunities in the State. (2) Notwithstanding anything contained in any other State law but subject to the provisions of this Act, the Board, with the previous sanction of the Government may, in exercise of its powers and performance of its functions under this Act, issue directions in writing to any person, officer or any Competent Authority under the relevant State law and such person, officer or Competent Authority shall be bound to comply with such directions. Explanation: The power to issue directions under this sub-section shall be limited to a person, officer or Competent Authority in the State and it shall include power to direct to consider, grant, approve a particular project with such conditions as the Board may deem fit and proper in the nature and circumstances of the case. (3) Notwithstanding anything contained in any other State law, the Board shall, in case any person, officer or Competent Authority under the State law fails to process and - 8 - dispose of application within the time limit specified under sub-section (1) of section 39, have the power to consider and dispose of such application under any such State law and for this purpose, reference to the person, officer or Competent Authority in such State law shall be construed as reference to the Board: Provided that where the Board is unable to meet or otherwise unable to consider the application immediately, the Chairperson of the Board may, for reasons to be recorded in writing, decide the application and report the action taken to the Board in its next meeting and the decision of the Chairperson, on such application shall for all purposes deemed to be the decision of the Board under this subsection. (4) Where clearance is issued by the Board under sub-section (3), the Board after performing necessary enquiry may recommend to the Government to take appropriate disciplinary action against the defaulting person, officer or Competent Authority, who has failed to dispose of the application within the time limit specified under sub-section (1) of section 39, if it is of the opinion that there was a wilful default in delaying the approval process of application. (5) The Board shall have power to,— (a) acquire, hold and develop such property, both movable and immovable as the Board may deem necessary for the performance of its functions, and to lease, sell, exchange or otherwise transfer any property held by it on such conditions as may be deemed proper by the Board; (b) engage suitable consultants to assist the Board in the performance of its functions; (c) delegate any of its powers generally or specially to any of its committees or officers; (d) enter into and perform all such contracts as it may consider necessary or expedient for carrying out any of its functions; (e) do such other things and perform such other acts as it may think necessary or expedient for the proper conduct of its functions and for carrying into effect the purposes of this Act; (f) review and monitor the disposal of applications by the Sub-Committee; (g) seek periodical returns from the investors as to the turn-over, production, employment generated, investment, etc., as determined by the Board; (h) review and monitor the processing of applications by any person, officer or Competent Authority within the time limit stipulated in sub-section (1) of section 39; (i) direct any person or officer or Competent Authority for taking decision on application pending beyond the time limit stipulated in sub-section (1) of section 39. (6) Where clearance is issued by the Board under sub-section (3), the Board shall hav the power to call for reason of delay and may during its meetings call for necessary information and personal appearance of the concerned person, officer or Competent Authority.