Power to incorporate subsidiaries and Joint Project Ventures.

General201856 sections

Statutory text

(1) The Authority may subscribe to the share capital of any public limited company incorporated under the Companies Act, 2013 or a cooperative society, with limited liability registered under the Jammu and Kashmir Cooperative Societies Act, 1989 (Act No. X of 1989) : Provided that, the amount of such subscription in a year shall not exceed such sum as may be prescribed :
(2) The Authority for the purpose of executing or managing projects, schemes, policies and raising equity therefor shall have power to create Joint Project Venture (JPV) with Private Partner(s).

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