Chapter II MEGHALAYA INFRASTRUCTURE DEVELOPMENT FINANCE BOARD

1. (1) As soon as may be after the commencement of this Act, the State Government may, by 'notification in the Official Gazette constitute and establish a Board to be called the Meghalaya Infrastructure Development Board and the Board shall become operational from such date the State Government may notify in the. Official Gazette.
2. (2) The Board shall:
   • (a) be a body corporate having a perpetual succession;
   • (b) have a common seal;
   • (c) have the power to acquire, purchase, lease, rent or otherwise take possession of any property or assets, both movable and immovable, in its own name. Provided that any transaction on land shall be subject to the provIsions of Meghalaya Transfer of Land (Regulation) Act, 1971;
   • (d) be capable or suing and being sued; and
   • (e) have the power to do or perform all such acts and things as a body corporate may legally do or perform.
3. (3) The head office of the Board shall be situated at Shillong or at such other place as the State Government may specify by a notification in the Official Gazette. The Board may establish branch or other offices at such other places in the State as it may deem fit.

1. (1) The Board shall consist of a Chairperson and not less than two and not more than seven other Members to be appointed by the State Government by notification in the Official Gazette.
2. (2) The composition of the Board established under sub-section (1), shall be as follows: -
   • (a) The Minister of Finance of the State Government Chairperson(b)The Chief Secretary to the State Government Member(c)The Additional Chief Secretary The Principal Secretary, Department of Finance Member(d)The Additional Chief Secretary Principal Secretary to the Chief Minister Member(e)The Additional Chief Secretaryl Principal Secretary, Planning Department Member(f)Three technical experts to be nominated by the State Government Member(g)The Minister-in-charge of the concerned Administrative Department Special Invitee (3) The appointment of the Chairperson and all other Members of the Board as first constituted and every subsequent change thereafter shall be published in the Official Gazette. (4) The term and other conditions relating to salary and fee of Members, Secretary, officer and employees of the Board shall be such as may be prescribed.

1. (1) The Members appointed under clause (f) of section 4 shall be persons of ability, integrity and standing and qualified in the fields of management of Infrastructure Projects, law, finance, economics or commerce.
2. (2) The minimum qualification and experience in the fields of management of Infrastructure Projects, law, finance, economics or commerce, namely, -
   • (a) qualifications and experience in the field of management of Infrastructure Projects, - relevant professional qualification and a minimum work experience of ten years after acquiring the professional qualification, in a government department or public sector organization or in a private sector engaged in Infrastructure .Projects and having adequate financial credentials in respect of conceptualizing, appraisal, development, financing or implementation of Infrastructure Projects.
   • (b) qualifications and experience in the field of Lawa serving or a retired District and Sessions Judge or a person qualified to be a District and Sessions Judge. (c) qualifications and experience in the field of Finance, Economics or Commerce -
     • (i) membership of the Institute of Chartered Accountants of India or Post Graduation in Economics, Commerce or Management; and
     • (ii) ten years' of work experience after acquiring, the said qualification in a government, department, public sector organization or in a private sector organization having adequate financial credentials, or ten years' teaching experience in a university or a college, recognized by the University Grants Commission or All India Council of Technical Education in the stream of finance, economics or commerce.
3. (3) Before appointing any person as the Member under clause (f) of section 4(2), the State Government shall satisfy itself that the person does not have any financial or other interest, which may affect prejudicially his functioning as a Member of the Board.
4. (4) Notwithstanding anything contained in this Act, the State Government may, by order, remove any Member of the Board from his office if such Member:
   • (a) is an un-discharged insolvent; or
   • (b) is found guilty under the laws of India of a criminal offence of a dishonest or fraudulent nature; or
   • (c) has been convicted of an offence which, in the opinion of the State Government, involves moral turpitude; or
   • (d) is of unsound mind and stands so declared by a competent court; or
   • (e) has become physically incapacitated to hold the office; or
   • (f) has so abused his position as to render his Continuance in office prejudicial to the Public interest; or
   • (g) in case of employees of the State Government or any of the Government Agency or any Specified Government Agencies, has resigned, or been removed or dismissed from the service for any reason whatsoever; or
   • (h) in the case of a person having professional qualifications, is disqualified or suspended from practicing his or her profession by order of any competent authority made in respect of him or her personally; or
     • (i) is judged by the Board as behaving with gross misconduct capable of bringing the Board into disrepute; or
   • (j) has failed to disclose his or her interests or potential interests in an Infrastructure Projector a Bankable Project in the State as required under Section 11; and
   • (k) has ill- the opinion of the State Government, such financial ,or other interest in an Infrastructure Project or a Bankable Project in. the State as is likely to affect prejudicially the discharge by him of his functions as a Member.
5. (5) Any Member of the Board .shall cease to hold office in the Board if he is removed in accordance with the provisions of subsection (4) or relinquishes' his office by giving a written notice of at least three calendar months to the State Government.

The Chairperson, shall have the powers of general superintendence :and directions in the conduct of the affairs of the Board and shall, preside over the meetings of the Board: Provided that the Chairperson may delegate such of his powers relating to administrative matters of the Board, as he may think fit, to any other Member or officer' of the Board.

Every Member of the Board may appoint a nominee to attend a meeting of the Board on his behalf as an observer.Such a nominee may speak on behalf of the Member but is not entitled to vote.

1. (1) Every Member appointed under section 4(2) (f) shall hold office for 3 years or during the pleasure of the State Government.
2. (2) The Chairperson and every other Member shall, before entering upon his office, make and subscribe an oath of office and of secrecy in such form, manner and before such authority, as may be prescribed.

A vacancy caused by the resignation or removal of any Member or by death or otherwise shall be filled up within a period of two months by fresh appointment in accordance with the provisions of this Act.

1. (1) The Board shall meet at such times and such places, and shall observe such rules of procedure in regard to the transaction of business at its meeting as may be provided by the regulations: Provided that the Hoard shall meet-at ., Ieast once every three months.
2. (2) The meetings of the Board shall be presided over by its Chairperson or, in his or her absence by the senior most Member nominated by the Members who are present at the meeting from among themselves.
3. (3) The quorum required for transacting any business by the Board at its meeting shall be at least four, who shall be present in all the meetings of the Board. Meetings of the Board shall be suspended or terminated if the number of Members present becomes less than the quorum.
4. (4) A decision of the majority of Board Members present at a meeting of the Board shall be the decision of the Board and, in the event of an equality of votes; the person presiding at the meeting shall have a casting vote in addition to his or her deliberative vote.
5. (5) The Members of the Board shall discharge the obligations under this Act and the rules made under this Act on an honorary basis and the expenses incurred. in connection with such discharge of , obligations and conduct of meetings shall form part of the administrative expenses of the Board.

1. (1) If any Member of the Board, or a Member of a committee, or his relative is a director, shareholder, proprietor or partner in the contracting entity or the Concessionaire or is in any way directly or indirectly interested in any project or contract or Concession Agreement entered into or proposed to be entered into or under consideration by the Board, or in any other matter which is the subject of consideration by the Board, and which may cause a conflict of interests in the performance of his or her duties as a Member of the Board, or a Member of a committee; he or she shall fully disclose the nature of such interest as soon as possible after the commencement of the meeting of the Board or that of the Committee at which the project or the contract or the Concession Agreement or other matter is, a subject of consideration, and that Member of the Board. or Member of the Committee shall not take part in the consideration of, or vote on, any question relating to. that contract ,proposed contract or matter. Explanation: For the purpose of this Section, the term relative shall bear the meaning as assigned to it under Section 2 (41) of the Companies Act. 1956.
2. (2) If a Member of the Board, or a Member of a Committee referred to in sub-section (1) fails to disclose a conflict of interest as required by sub-section (1) and is present at a meeting of the Board or a Committee, or in any manner participates in the consideration of, or vote. on, any question relating to the contract or other matter referred to in sub-section (1), the proceedings in relation to that contract or matter shall, as soon as such non-disclosure is discovered, be rendered invalid and thereafter be reviewed by the Board or the Committee, as the case may be, in the absence of the Member of the Board, alternate Member of the Board, or Member of the Committee concerned.

1. (1) The Board may appoint a secretary and such other employees as it considers necessary for the efficient performance of its functions under this Act.
2. (2) The salaries and allowances payable to and other terms and conditions of service of the secretary and officers and other employees of the Board and the number of such officers and 'other employees shall be such as may be prescribed.
3. (3) The Board may engage, in accordance with the procedure specified by regulations, such number of experts and professionals of integrity and outstanding ability, who have special knowledge and experience in the sector, to assist the Board in discharging of its functions under this Act.

The Board may associate with any person whose assistance or advice is required in performing any of its functions under this Act.

The Board may constitute Committees consisting of such number of Members, and other employees, professionals and officers for performing such of its functions, as may be determined by the Board and such Members, employees, professionals and officers shall be the members of the Committee so constituted.

The Board may obtain information in relation to the progress of any Bankable Project which has been undertaken as per the provisions of this Act.

No act or proceeding of the Board or of any of its Committees shall be invalid merely by reason that any vacancy therein or any defect in the constitution of the Board, or any defect in appointment of a person acting as Chairperson or a Member or any irregularity in its procedure not affecting the merit of the case.

The Board shall be accountable to the State Govt.