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Control and Management of Fund

Act: Balochistan General Provident Investment Fund Act 2007

Section Provisions

ACT I of 2007 ACT I of 2007 BALOCHISTAN GENERAL PROVIDENT INVESTMENT FUND ACT, 2007 An Act to provide for establishment of a General Provident Investment Fund in the Province of Balochistan. [Gazette of Balochistan, Extraordinary, 13th June, 2007] No. PAB/Legis:V(37)/2007, dated 12-6-2007.--The Balochistan General Provident Investment Fund Bill 2007, Bill No.2 of 2007 having been passed by the Provincial Assembly of Balochistan on 29th May, 2007 and assented to by the Governor of Balochistan, on 2nd June, 2007, is hereby published as an Act of the Provincial Assembly. Preamble.--Whereas it is expedient to provide for establishment of a General Provident Investment Fund in the Province of Balochistan. It is hereby enacted as follows:-- 4. Control and Management of Fund.---(1) The fund shall be under the control of and operated upon by the Board and shall be kept in such Bank (s) and invested in such manner as may be determined by the Board. (2) The fund shall be available for payment to the subscribers of General Provident Fund as per his credit and balance as and when demanded.