section 8-B
Deemed Clearance
The Punjab Bureau of Investment Promotion Act, 2016(1) Upon failure of the competent authority to issue clearance to any application filed on the online portal, within the stipulated time, the application shall be deemed to have been issued such clearance: Provided that the application is complete in all respects, including the submission of requisite fees and an undertaking by the applicant to comply with all provisions of the relevant Act or any rules, policy, guidelines framed thereunder, and face penal action in case of non-compliance thereof. (2) Notwithstanding anything contained in sub-section (1), the competent authority may, within the first seven days of the submission of the completed application, ask for additional information from the applicant: Provided that such request for additional information shall be made only once by the competent authority (3) In case the additional information furnished by the applicant to the competent authority is found to be insufficient or unsatisfactory upon scrutiny, the competent authority shall be at liberty to reject the application within the stipulated time by issuing an order in writing, giving reasons for rejecting the application: Provided that in case no order is issued within the stipulated time by the competent authority, the application shall be deemed to have been issued clearance. (4) The deemed clearance shall, for all intents and purposes, carry the weight of a clearance granted by the competent authority under the relevant Act or any rules, policy, guidelines framed thereunder.
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