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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-IV POWERS AND FUNCTIONS OF THE BOARD 7. Powers and functions of the Board.--Subject to the provisions of this Act, the Board shall, in the prescribed manner, exercise such powers and perform such functions as may be necessary for carrying out the purposes of this Act, including-- (a) formulation of investment policy, establishment of standards and procedures for the investment from the Reserve Fund; (b) investment of amounts from the Reserve Fund; (c) transfer of any profit generated through the investment to the Reserve Fund; (d) initiating proposals for making or amendment of the rules; (e) employ such persons as may be necessary for the purposes of this Act; (f) constitution of committees from amongst its Members to make recommendations on a specific issue or issues; (g) preparation of an annual report for submission to the Government detailing the performance of the Authority; (h) borrow money from the Government or any other institution; and (i) performance of such other functions which are ancillary to the above functions or incidental to the purposes of this Act.