FUNCTIONS AND POWERS OF THE BOARD

(1) The Board shall be the apex body in the State for promotion and development of PPP in infrastructure sectors and projects, and for promotion and development of private sector investments. (2) The Board shall: a) Act as a nodal agency to co-ordinate all efforts of the State Government regarding the development of infrastructure projects involving PPP / private participation and funding from sources other than those provided by State budget and shall: i. Identify / originate / evaluate previously identified and / or delegated projects (infrastructure and other sectors) and new concepts for private participation; ii. For identified projects, manage and execute the entire process, internally or with the help of external advisor(s), of creating the project, ascertaining viability, determining transaction structure including any viability gap funding (VGF), engaging relevant Administrative Department of the State Government for advice, inputs and approval wherever required, marketing the project to ensure Active participation, bringing on board private investor(s), monitoring project execution, etc.; iii. Identify bottlenecks in the infrastructure sectors and recommend to the State Government, policy and project initiatives to rectify the same; iv. Select, prioritise and determine sequencing of PPP projects in infrastructure; v. Promote competitiveness and private participation through PPP while developing projects while ensuring adherence to best public policy principles; vi. Formulate (and help other departments in formulating) clear and transparent policies related to PPP in the infrastructure sectors so as to ensure that project risks are clearly identified and allocated between stakeholders; vii. Identification of best end use of state Government land assets; and viii. Assist the State Government in disinvestment / monetization / redevelopment of existing, State Government assets including land. b) Prepare internally or through external consultants or service providers engaged for the purpose, all necessary documents including the bid or tender documents, draft contracts including the various contractual arrangements and incentives to be offered by the State Government for PPP and investment projects; c) Create a fund, to be known as uttarakhand Investment and Infrastructure Development Fund (the "Fund" or "U.IIDF"), as provided under section 11, which shall vest in the Board; d) Manage and administer the Fund; e) Assist concessionaires and other departments (and seek assistance) in obtaining statutory and other approvals for PPP and investment projects; f) Recommend the grant of concessions to concessionaires in accordance with the provisions of this Act, and the rules made there under. g) Determine / Assist in determining the level and structuring of investments of State Government and other departments / Government agencies into Infrastructure projects with private participation including holding equity / sweat equity investments, etc; h) Act as a think-tank / advisor to the State Government on key policy matters related to investment and infrastructure promotion; i) Create special purpose vehicles for implementing infrastructure projects / projects in terms of Section 35 in co-ordination with the State Government or other Government departments; j) Undertake investment promotion Activities for the State Government in designated sectors; and k) Structure and oversee legal framework required to promote private Investments and Public Private Participation ("PPP") projects in the State; (3) In order to carry out its functions, consistent with the provisions of this Act, the Board shall have the powers to do all or any of the following, namely: a) Acquire, hold, develop or construct such land and property, both movable and immovable, as the Board may deem necessary for the performance of any of its Activities related to the development of PPP projects in infrastructure / private Investment projects; b) Advise or recommend to the State Government acquisition of land under the Land Acquisition Act, 1894 and Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013, whichever is relevant, for the performance of any of its Activities; c) Lease, exchange, or otherwise make allotments of the property referred to in section 6(3)(a), to concessionaire and to modify or rescind allotments, including the right and power to evict the allottees concerned on breach of any of the terms or conditions of such allotment; d) Borrow and raise money in such manner as the Board may think fit and to repay any money borrowed or raised; e) Constitute a one or more Sectoral Sub-Committee(s) or Project Implementation sub-Committee(s); f) Engage suitable service providers or advisors or consultants to advise the Board for the efficient discharge of its functions; g) Enter into and perform all such contracts as it may think necessary or expedient for performing any of its functions; and h) Do such other things and perform such other acts as it may think necessary or expedient for the proper conduct of its functions and for carrying into effect the purposes of this Act. (4) The Board and / or projects facilitated by the Board shall not be covered under the Uttarakhand Public Private Partnership Policy 2019 (or any future revisions or amendments to the same) and nor shall they be covered under the rules / procedures of the Public Investment Board (PIB).