Establishment of Board and related matters

General200018 sections

Statutory text

(1) The Government shall, immediately after the date of coming into force of this Act but not later than thirty days thereof, establish, by notification in the Official Gazette, a Board to be known as the Maharashtra Board for Restructuring of State Enterprises. (2)
- (a) The Board shall exercise the jurisdiction and powers and discharge the duties and functions as conferred on or assigned to the Board by or under this Act.
- (b) The Board shall consist of a Chairperson and two other Members. The Government shall appoint the Chairperson. The other two Members of the Board shall also be appointed by the Government after prior consultation with the Chairperson. The Chairperson may request the Government to appoint additional Members for a specified period of time (not exceeding the tenure of three years) to set up an additional Bench of the Board if the work load so warrants.
- (c) The Chairperson and Members of the Board shall be persons of ability, integrity and standing who have professional experience, in the public or private sector, of not less than fifteen years and have special knowledge of administration, banking, management, finance, accountancy, law, labour matters, company affairs or any other field, the professional experience in or special knowledge of which would, in the opinion of the Government, be useful to the Board.

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