5

ACT IX of 2009 ACT IX of 2009 BALOCHISTAN PENSION FUND MANAGEMENT AUTHORITY ACT, 2009 An Act to provide for establishment of an authority for management of pension fund and to generate revenue for discharge of the pension liabilities of the Government [Gazette of Balochistan, Extraordinary, 3rd November, 2009] No.PAB/Legis:V(9)/2009, dated 3-11-2009.---Balochistan Pension Fund Management Authority Bill, 2009 having been passed by the Provincial Assembly of Balochistan on 20th October, 2009 and assented to by the Governor, Balochistan on 24th October, 2009 is hereby published as an Act of the Provincial Assembly. Preamble.---Whereas, it is expedient to establish an authority for management of a Pension Fund for the common benefit of the employees of the Government of Balochistan to provide for their Pensions and the matters connected therewith or ancillary thereto; It is hereby enacted as follows:-- CHAPTER-III ESTABLISHMENT AND MANAGEMENT OF THE AUTHORITY 5. Establishment of Authority.---(1) There shall be established an Authority to be known as the Balochistan Pension Fund Management Authority for carrying out the purpose of this Act. (2) The Authority shall be a body corporate by the name of "the Balochistan Pension Fund Management Authority" and shall have perpetual succession and a common seal to enter into contract and may sue or be sued by the said name. (3) The Management and Administration of the Authority shall vest in the Management Board constituted under section 6 of this Act. (4) Subject to the provisions of this Act and the rules made thereunder in the performance of its functions and in exercise of its powers the Authority/Board shall act in accordance with the provisions of this Act and be bound by the directions of the Government.