Insertion of new sections 2-A, 2-B, 2-C, 2-D and 2-E, Rajasthan Act No. 7 of 2011

After the existing section 2 and before the existing section 3 of the principal Act, the following new sections shall be inserted, namely:- "2-A. Establishment and constitution of the Board.- (1) The Government shall establish and constitute a Board to be called the Board of Investment.

1. (2) The Board shall consist of the following, namely:-
   • (i) the Chief Minister Chairperson;
   • (ii) the Minister in-charge of Industry Department Vice-Chairperson;
   • (iii) the Minister in-charge of Finance Department Member;
   • (iv) the Chief Secretary Member;
   • (v) the Secretary in-charge of the Department of Industry Member;
   • (vi) the Secretary in-charge of the Department of Finance Member;
   • (vii) the Commissioner Member-Secretary. Explanation.- For the purpose of this sub-section, "Secretary in-charge" means the Secretary in-charge of a department and includes an Additional Chief Secretary and Principal Secretary when he is in-charge of a department.
2. (3) The Minister in-charge and the Secretary in-charge of the concerned department(s) may be invited as special invitees in the meetings of the Board but they shall have no right to vote on any matter before the Board for decision.
3. (4) The Board shall be the apex body for providing accelerated approvals and permissions to the investment proposals considered under section 3 and for all the matters related and incidental thereto industrial development and investment promotion for the State.
4. (5) The Secretariat of the Board shall be Office of the Bureau of Investment Promotion at Jaipur.
5. (6) The State Empowered Committee shall make its recommendations to the Board for taking decisions related to investment proposals falling under its jurisdiction. 2-B. Meeting of the Board.- (1) The Board shall hold its meeting on such date and at such time and place as it may determine.
6. (2) The meetings of Board shall be presided over by the Chairperson.
7. (3) The Board shall follow such rules of procedure while transacting business at its meetings as may be prescribed. 2-C. Vacancies, etc. not to invalidate act or proceedings.- No act or proceedings of the Board shall be questioned or shall be invalidated merely on the ground of existence of any vacancy or defect in the constitution of the Board. 2-D. Powers and functions of the Board.- The powers and functions of the Board shall be as follows:-
   • (i) to consider, review, formulate and approve policies, programmes and schemes for promoting investment in the State in enterprises and infrastructure sector(s);
   • (ii) to provide guidance and directions for making requisite modifications in the policies, procedures and systems made to accelerate economic growth and development and employment generation in the State;
   • (iii) to provide approval for customized packages, concessions, exemptions or relaxations and other benefits to the enterprises which are beyond the scope of policies of the Government by making requisite amendments therein;
   • (iv) to consider and dispose of inter departmental issues pertaining to investment proposals;
   • (v) to give directions, if necessary, to Bureau of Investment Promotion and also to the concerned departments or instrumentalities of the Government through Bureau of Investment Promotion to promote investment in the State from time to time;
   • (vi) to consider, review and take decision on such matters as may be referred by the State Empowered Committee; and
   • (vii) to exercise such powers and perform such functions as may be necessary for promoting investment and to generate opportunities of employment in the State. 2-E. Disposal of Applications under One Stop Shop.- (1) All proposals falling under the jurisdiction of the State Empowered Committee shall be considered, examined and disposed of under One Stop Shop.
8. (2) The Commissioner shall be administrative head of Nodal Agency mentioned in sub-section (1) of section 5 and shall be responsible for all affairs of the Nodal Agency.
9. (3) The officers of the concerned departments or instrumentalities of the Government shall be deputed on part time basis in the office of Nodal Agency mentioned in sub-section (1) of section 5 for providing necessary approvals and clearances of their concerned departments or instrumentalities of the Government.
10. (4) The officers so deputed in the office of Nodal Agency shall be responsible for disposal of proposals so received from the investors within the time prescribed under section 12 by taking necessary assistance from their concerned departments or instrumentalities of the Government, if required, and the same shall be submitted to the Commissioner and he shall, if required, coordinate with concerned department or instrumentality of the Government.
11. (5) The Commissioner and/or officers so deputed, as the case may be, shall be empowered by the concerned departments including instrumentalities of the Government by delegating their powers for granting requisite approvals/permissions pertaining to their departments or instrumentalities of the Government, as the case may be, to the investment proposals by making necessary amendments in the State Acts and rules and regulations made thereunder to carry out the purposes of the Act.
12. (6) The Commissioner shall, on behalf of the departments and instrumentalities of the Government concerned, exercise his powers, authenticate the documents and issue necessary orders and grant approvals/permissions under his signatures, till the commencement of commercial production or operation of the enterprises concerned.
13. (7) The Commissioner shall exercise supervision and control over, the officers and employees of the Bureau of Investment Promotion and, the officers so deputed on part time basis in the Bureau of Investment Promotion and he shall discharge other duties which are necessary to carry out the purposes of the Act.
14. (8) Where the proposals so submitted for investment are not disposed of within the time limit prescribed under sub-section (4), they shall be referred to the State Empowered Committee.”