6

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:-- 6. Audit and Accounts.---(1) General Provident Fund wing in Finance Department shall be responsible to maintain the accounts/investment of the Fund in such form and in such manner as may be prescribed. (2) No amount from the Fund shall be withdrawn, unless it is approved by the Board. Withdrawal of the amount shall be permissible only under the joint signatures of the Chairman/Chief Secretary and the Secretary Finance in their capacity as Chairman and Member of the Board. (3) The Finance Department shall prepare annual statement of the accounts of the Fund within 30 days of the closing of the respective financial year. The Board shall cause the annual statement to be laid before Government accompanied by a brief report on the maintenance and management of the Fund. (4) The Auditor General/Director General-Audit Balochistan Province shall be responsible to conduct the audit of the Accounts of fund including interest/mark-up accrued on the investment on yearly basis.