THE PUNJAB BUREAU OF INVESTMENT PROMOTION ACT, 2016
The Punjab Bureau of Investment Promotion Act, 2016
General201626 sections
This Act establishes the Punjab Bureau of Investment Promotion as a corporate body dedicated to fostering economic development in the state. It creates a Board of Governors comprising high-ranking government officials and experts to oversee the Bureau's administration. The legislation provides the legal framework for the Bureau to acquire property and issue clearances for industrial projects. By centralizing these regulatory functions, the Act aims to simplify the approval process for entrepreneurs, attract investment, and streamline the establishment and expansion of enterprises in Punjab.
- 1. Short title and commencement
- 2. Definitions
- 3. Establishment of Bureau
- 4. Board of Governors
- 5. Executive Committee
- 6. Special Committee(s)
- 7. Functions of the Chief Executive Officer
- 8. Powers of the Bureau
- 8-A. Online Portal
- 8-B. Deemed Clearance
- 8-C. Revocation of deemed clearance
- 8-D. Appeal mechanism
- 8-E. Overriding effect on other laws
- 8-F. Auto renewal of clearances
- 8-G. Inspections
- 9. Officers and employees of the Bureau
- 10. Meetings
- 11. Financing of the Bureau
- 12. Power to remove difficulties
- 13. Power to issue directions
- 14. Power to delegate
- 15. Power to make rules
- 16. Merger of existing bodies
- 17. Protection of action taken in good faith
- 18. Saving
- 19. Repeal and saving
PDF: pending for this language.