• Providing of all kinds of facilities in the matter of investment of local and foreign capital for the purpose of rapid industrialisation in the private sector;

• Implementation of the Government policy relating to the investment of capital in industries in the private sector;

• Preparation of investment schedule in relation to industries in the private sector and its implementation;

• Preparation of area-schedule for establishment of industries in the private sector and determination of special facilities for such areas;

• Approval and registration of all industrial projects in the private sector involving local and foreign capital;

• Identification of investment sectors and facilities for investment in industries in the private sector and giving wide publicity there of a abroad;

• Invention of specific devices for the purpose of promotion of investment in industries in the private sector and their implementation;

• Creation of infrastructural facilities for industries in the private sector;

• Determination of terms and conditions for employment of foreign officers, experts and other employees necessary for industries in the private sector ;

• Preparation of policies relating to transfer of technology and phase-wise local production in the private sector and their implementation;

• Providing of necessary assistance in the financing of important new industries in the private sector;
  l. financing and providing of assistance in the financing of important new industries in the private sector.

• Adoption of necessary measures for creation of capital for investment in industries in the private sector.

• Collection, compilation, analysis and dissemination of all kinds of industrial data and establishment of data-bank for that purpose;

• Doing such other acts and things as may be necessary for the performance of the above functions
  

Executive Council:

1. There shall be an Executive Council of the Board which shall consist of a Chairman and other members not exceeding six in number.

2. The Chairman and other members of the Executive Council shall be appointed by the Government, and the tenure of their office and terms and conditions of their service shall be determined by the Government.

3. The Chairman of the Executive Council shall be called the Executive Chairman and shall act as the Chief Executive of the Board.

4. The Executive Council shall advise and assist the Board in the efficient performance of its functions, be responsible for implementation of the decisions of the Board shall exercise such powers and perform such functions as may be delegated to it by the Board.

5. Where the office of the Executive Chairman becomes vacant or he is unable to discharge his duties due to absence, illness or any other reason, a member of the Executive Council nominated by the Government in this behalf shall act as the Executive Chairman until the new Executive Chairman appointed to the vacant office enters upon that office or, as the case may be, the Executive Chairman becomes able to resume the duties of his office or, as the case may be, the Executive Chairman becomes able to resume the duties of his office.
   

Meetings:

1. Subject to the other provisions of this section, the Board shall determine the procedure for its own meetings and for the meetings of the executive Council.

2. All meetings of the Board shall, with approval of the Chairman, be convened by its Secretary and shall be held at least once in every three months at such times and places as may be determined by the Chairman.

3. All meetings of the Board shall be presided over by its Chairman or, in his absence, by its Vice-Chairman, and in the absence of both them, by such member as may be nominated by the members present in the meeting from amongst themselves.

4. All meetings of the Executive Council shall be convened under the direction of the Executive Chairman and shall be held at such times and places as may be determined by him.

5. All meeting of the Executive Council shall be presided over the Executive Chairman and, in his absence, by a member thereof as may be specified by the Executive Chairman.
   

Registration:

1. All industries set up in the private sector, other than those falling within the jurisdiction of the Export Processing Zones Authority or of the Bangladesh small and Cottage Industries Corporation and textile industries set up by own finance and the industrial projects approved by the Board, shall be registered in the prescribed manner.

2. An industry registered under this section shall be deemed to be an industry approved by the Board under this Act, and such industry may, on its request, be provided with all such facilities as may be provided to an industrial project approved by the Board.
   

Approval etc. of an industrial project:

1. Every person intending to set up an industry in the private sector, other than an industry falling within the jurisdiction of the Export Processing Zones Authority or of the Bangladesh small and Cottage Industries Corporation, shall apply to the Board in the form and manner prescribed by it for obtaining the Board's approval on the proposed industrial project.

2. Notwithstanding the provisions of sub-section (1) upon recommendation of the Board, the Government may, by notification in the official Gazette, exempt any industry or any industrial project from the operation of the provisions of this section.

3. The Board may, for the convenience of considering an application received under sub-section (1) direct the applicant to furnish any information which it considers necessary for such purpose, and may also consult any relevant authority on any matter relating to the proposed industrial project.

4. If, after considering the application, the Board is satisfied that the project should be approved, it shall, subject to such conditions and limitations as it deems fit to impose, approve the same and shall issue a letter of approval to the applicant and shall specify in such letter the time-limit for the implementation of the project as also the time-limit for commencement of production thereat.

5. At the time of approving an industrial project under sub-section (4), the Board shall give its decisions on all facilities that may be required for implementation of the project in due time and, in particular, on all or any of the following matters, subject to their relevancy, and shall send such decisions to the concerned persons or authorities, namely:
   
   1. the extent and the terms and conditions of foreign loan and of suppliers credit;
   2. allotment of land in the industrial areas under the control of, or belonging to, the Government or a local authority other than the Export Processing Zones Authority and the Bangladesh Small and Cottage Industries Corporation.
   3. Time-limit for giving connections of electricity , gas and water-supply
   4. Time-limit for giving sewerage connections;
   5. Time-limit for giving connections of all kinds of tele-com munications;
   6. Time-limit for clearing by the customs authorities of imported machineries, spares of such machineries and raw materials;
   7. Time-limit for issuing clearance regarding environment pollution;
   8. Other facilities and services that may be required for speedy setting up of an industry.
   
   

6. A decision given by the Board under sub-section (5) shall be deemed to be a decision given by the Government or by such other person or authority as is authorized by, or entitled to give such decision under, the provisions of the relevant subject, and such decision shall be implemented accordingly.

7. No person shall, except with the prior permission of the Board, use any service or facility availed of by him pursuant to a decision under sub-section (5) for any purpose other than for the industrial project for which it was so availed.

8. Where an industrial project is a company registered under the provisions of the Companies Act, 1913 (VII of 1913), the Board may, in respect of all matters relating to the issue of capital and sale of shares of that company, exercise all powers and perform all functions of the Government under the provisions of the Capital Issues (Continuance of Control) Act, 1947 (XXI of 1947).

9. Where an industrial project faces any difficulty in the completion of the project within the time-limit specified in the letter of approval or if, after such completion, it faces any difficulty in commencing, with in such time-limit, production thereat, the entrepreneur of the project may apply to the Board for removing such difficulty, and upon such application, the Board shall endeavour to extend to the entrepreneur necessary assistance.

10. The Board may, from time to time, require the entrepreneur of an industrial project approved under sub-section (4) to furnish such information relating to the implementation of the project as the Board may consider necessary.