Amendment status not verified — confirm the current text below against the official source.
(1) Subject to the provisions of this Act, it shall be the duty of the Developer to secure planned development of the Special Economic Zone. The Developer shall establish, construct, install, operate, maintain and manage the Special Economic Zone and shall also provide therein necessary infrastructure and amenities. (2) Without prejudice to the generality of the provisions of sub-section (1), the Developer shall exercise and perform the following powers and functions, namely (a) to prepare a development plan of the Special Economic Zone in such manner, as may be prescribed; (b) to demarcate and develop sites for industrial, commercial (including free trade and warehousing zone), residential and other purposes according to the approved plan ; (c) to allocate and transfe, either by way of sale or lease or allotment, plots, land, buildings or installations for industrial. commercial, residential or other purposes; Land for Special Economic Zone. Duties and functions of the Developer. 136 PUNJAB GOVT GAZ. (EXTRA.), SEPT. 24, 2009 (ASVN 2, 1931 SAKA) : (5) On receipt of the proposal, sent by the Director under sub-section (4), the Project Approval Committee shall consider the proposal and examine the viability of other economic aspects of the project justifying the necessity of setting up of the proposed Special Economic Zone. (6) If the Project Approval Committee after consideration comes to the conclusion that the proposal is justified, then it will accord its approval in principle, in case, the Developer is not in possession of land, on which the project is to be developed. In case, the Developer is in possession of the land, on which the project is to be developed, then the Project Approval Committee shall accord its formal approval. (7) After the formal approval of the Project Approval Committee is accorded under sub-section (6), the Director shall forward the proposal to the - Central Government for approval subject to such terms and conditions, as may be specified by the Project Approval Committee.