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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 10. Fund Manager.---(1) The Government shall, by notification in the official Gazette, appoint a Fund Manager for management of the Fund, which shall be from amongst panel of at least three names recommended by the Board. (2) The Fund Manager shall be a person having at least twelve years' experience of banking, accounting, custody of investment assets and management of pension fund assets and he shall be a member of the Institute of Chartered Accountants of Pakistan or the Institute of Cost and Management Accountants of Pakistan. (3) Subject to the provisions of this Act and the rules made thereunder the Fund Manager shall exercise such powers and perform such functions as may be assigned to him by the Board. (4) The Fund Manager shall hold the office for a specific period, on such terms and conditions as may be determined by the Government. (5) The Board may, after providing an opportunity of being heard, recommend removal of the Fund Manager during the tenure of his office. (6) The Fund Manager may tender his resignation to the Government and shall cease to hold office upon acceptance of his resignation.