Amendment status not verified — confirm the current text below against the official source.
(1) There shall be a Board of Governors of the Bureau which shall be the apex governing body for all matters of the Bureau. The constitution of the Board of Governors shall be as follows, namely: - (i) Chief Minister; : Chairman (ii) Minister-in-Charge, Department of Investment Promotion; : Senior Vice- Chairman (iii) Industries Minister; : Vice- Chairman (iv) Finance Minister; : Member (v) Agriculture Minister; : Member (vi) Health and Family Welfare Minister; : Member (vii) Tourism Minister; : Member (viii) Labour Minister; : Member (ix) Food Processing Minister; : Member (x) Information Technology Minister; : Member (xi) Housing and Urban Development Minister; : Member (xii) Local Government Minister; : Member (xiii) Science, Technology and Environment Minister; : Member (xiv) Chief Secretary to Government of Punjab; : Member (xv) Financial Commissioner, Revenue; : Member 1 Added by Punjab Act No.15 of 2021, Section 2 Board of Governors. Establishment of Bureau. (xvi) Financial Commissioner, Development; : Member (xvii) Principal Secretary, Finance; : Member (xviii) Financial Commissioner, Forests; : Member (xix) Principal Secretary to Chief Minister; : Member (xx) Principal Secretary, Health and Family Welfare; : Member (xxi) Principal Secretary, Tourism; : Member (xxii) Principal Secretary, Housing and Urban Development; : Member (xxiii) Financial Commissioner, Taxation; : Member (xxiv) Principal Secretary, Labour; : Member (xxv) Principal Secretary, Information Technology; : Member (xxvi) Principal Secretary, Power; : Member (xxvii) Principal Secretary, Industries and Commerce; : Member (xxviii) Principal Secretary, Local Government; : Member (xxix) Principal Secretary, Science, Technology and Environment; : Member (xxx) Principal Secretary, Investment Promotion; : Member (xxxi) Three technical experts to be nominated by the Government; : Members (xxxii) Five representatives of trade, industry and commerce to be nominated by the Government; and : Members (xxxiii) Chief Executive Officer. : Member- Secretary (2) Subject to the overall control and superintendence of the Government, the Board of Governors shall provide overall policy guidance and direction to the Bureau and shall be the apex body for all matters relating to the Bureau. It shall be responsible for, - (a) approving the regulations and procedures of the Bureau and allocating such functions to the Executive Committee and the Chief Executive Officer, which are not otherwise specified; (b) creation, sanction, abolition and re-designation of posts required for effective functioning of the Bureau; (c) approval of any borrowings or hypothecation of any assets of the Bureau, if required; (d) approval and sanction, on behalf of the Government, of any fiscal incentives or other benefits to an investment proposal or project, falling outside the policies of the Government of Punjab by way of amendment of, addition to exception to such policy; (e) approval of the annual budget, accounts and reports, including the audit reports of the Bureau; and (f) making such rules and regulations under this Act, as it may consider necessary and proper to transact its business and that of the Bureau to achieve the assigned task, including matters concerning finance, accounts and personnel.