Establishment of Board, its constitution, powers and duties

(1) The Government may, by notification in the Official Gazette, establish for the purposes of carrying out the provisions of this Act, a Board to be called the Punjab Education Development Board. (2) The Board established in terms of sub-section (1), shall consist of the following, namely: - (i) Chief Minister, Punjab; : Chairman; (ii) Minister-in-charge of School Education; : Vice-Chairman; (iii) the Chief Secretary; : Member (iv) the Secretary, School Education; : Member (v) the Secretary, Finance : Member (vi) the Secretary, Excise and Taxation; : Member (vii) an Officer of the Indian Administration Service, to be appointed by the Government; : Member-Secretary (viii) three prominent educationalist, : Members to be nominated by the Chief Minister; and (ix) four prominent private partners, : Members to be nominated by the Chief Minister. (3) The Board shall be a body corporate having perpetual succession and a common seal with powers, subject to the provisions of this Act, to acquire, hold or dispose of property both movable and immovable and shall, by the said name, sue and be sued. (4) The Government shall exercise general superintendence and control over the Board and its employees and may call for such information, as it may deem necessary. (5) Subject to the rules made under this Act, an estimate of annual income and expenditure of the Board for the ensuing Financial Year, shall be got prepared by the Member-Secretary of the Board and shall be submitted to the Board for approval. (6) An annual statement of income and expenditure of the Board shall be got prepared by the Member-Secretary and after obtaining approval of the Board, the same shall be sent to the Government within a period of three months from the date of closure of the Financial Year. (7) The Board shall have its headquarters at Chandigarh or at such other place, as may be notified by the Government from time to time.