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Investment Board Act
: Act No. XVII OF 1989 |
AN
ACT :
For the establishment of a board to encourage
investment in the private sector and to
provide necessary facilities and assistance
in the establishment of industries;
WHEREAS it is expedient to make provision
for the establishment of a Board to encourage
investment in the industry in private
sector and to provide necessary facilities
and assistance in the establishment of
industries.
It is hereby enacted as follows :
Short title and commencement :
Definitions: In this Act, unless there
is anything repugnant in the subject or
context :
-
"Board"
means the Board established under section
4;
-
"Chairman"
means the Chairman of the Board:
-
"Executive
Council" means the Executive Council
constituted under section 8(1);
-
"letter
of approval" in relation to the
establishment of an industry, means
a letter of approval issued under section
11(4);
-
"person"
includes a group of individuals, a company
or a commercial establishment;
-
"rules"
means the rules made under this Act.
Act
to override other laws:
The
provisions of this Act and the rules made
thereunder shall have effect not with
standing anything to the contrary contained
in any other law for the time being in
force.
Establishment
of the Investment Board:
As
soon as my be after the commencement of
this Act, the Government shall, by-notification
in the official Gazette, establish a Board
to be called Board of Investment.
Head
Office:
The
head office of the Board shall be at Dhaka
and the Board may establish its branch
offices at such other place or places
as it considers necessary.
Composition
of the Board:
-
The
Board shall consist of the following
members namely:
-
Chairman;
-
Minister
in charge of the Ministry of Division
dealing with industries who shall also
be its Vice-Chairma, ex-officio;
-
Minister
in charge of the Ministry or Division
dealing with finance, ex-officio;
-
Minister
in charge of the Ministry or Division
dealing with power, fuel and mineral
resources, ex-officio ;
-
Minister
in charge of the Ministry or Division
dealing with commerce, ex-officio;
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Minister
in charge of the Ministry or Division
dealing with textiles, ex-officio;
-
Minister
in charge of the Ministry or Division
dealing with planning, ex-officio;
-
Governor
of the Bangladesh Bank, ex-officio;
- Secretary
of the Ministry or D
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