Vidhi Codex

The Kerala Infrastructure Investment Fund Act, 1999

The Kerala Infrastructure Investment Fund Act, 1999

Infrastructure199934 sections

The Kerala Infrastructure Investment Fund Act, 1999, regulates the establishment, funding sources, and administration of a dedicated state investment fund designed to finance major physical and social infrastructure projects in Kerala valued at over one hundred crore rupees. It applies to government departments, public sector undertakings, local self-government bodies, and private sector concessionaires engaged in public-private partnerships. This law matters because it establishes a robust financial mechanism to mobilize resources, leverage private capital, and secure institutional loans, driving critical, large-scale development projects like schools, transport, and health facilities that would otherwise face major capital and funding barriers in the region.

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  1. 0. Preamble
  2. 1. Short title, extent and commencement.
  3. 2. Definitions.
  4. 3. Kerala Infrastructure Investment Fund Scheme.
  5. 3A. Eligible projects.
  6. 4. Constitution of Board.
  7. 5. Term of office of members.
  8. 5A. Meetings of the Board.
  9. 6A. General powers of the Board.
  10. 6B. Executive Committee.
  11. 6C. Fund Trustee and Advisory Commission(FTAC).
  12. 6D. Functions of Fund Trustee and Advisory Commission.
  13. 6E. Powers of Fund Trustee and Advisory Commission.
  14. 6F. Project identification, prioritization and implementation.
  15. 7. Budgetary allocation for repayment.
  16. 8. Power of the Board to borrow and lend.
  17. 8A. Power of the Board to delegate.
  18. 9. Guarantee by Government of loans.
  19. 10. Appointment of officers and staff.
  20. 11. Mode of recovery of money due to Board.
  21. 12. Members of Board etc. to be public servant.— Every member of the Board
  22. 13. Protection for acts done in good faith.
  23. 14. Power of Government to issue directions.
  24. 15. Accounts and Audit.
  25. 16. Annual report and audited statement of accounts.
  26. 17. Power to order inquiry.
  27. 17A. Power to appoint an Inspection Authority.
  28. 18. Dissolution of the Board.
  29. 19. Bar of jurisdiction of civil Courts.
  30. 20. Removal of difficulties.
  31. 21. Modification of the Scheme.
  32. 22. Repeal and saving.
  33. I. See sections 2(ac), 2(ae), 3(6), 6A(k), 6A(o), 6F(4)(a), 6F(6), 6F(10)]
  34. III. [See section 6F(11)(c)] NATURE OF CONCESSION AGRREEMENTS

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