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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 9. Limitations on the investment:---Notwithstanding anything contained in section 12 or under any other law for the time being in force, no investment shall be made by the Board from the Reserve Fund,-- (a) for a period of more than three years or in any foreign market or firm, except with the prior approval of the Government; (b) for an amount of more than twenty-five per cent of the Reserve Fund in one financial institution cumulatively except with the prior approval of the Government. (c) for an amount more than seventy-five per cent of the Reserve Fund in the Government bonds cumulatively; (d) for an amount of more than five per cent of the Reserve Fund in corporate or other bonds or short term financial instruments, per issue of the bond or the instrument; and (e) for an amount of more than five per cent of the Reserve Fund in third party product, unit trust, mutual fund or through managed portfolios in each case.