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ORDINANCE XV of 2007 ORDINANCE XV of 2007 BALOCHISTAN PENSION FUND MANAGEMENT AUTHORITY ORDINANCE, 2007 An Ordinance to provide for establishment of an authority for management of Fund and to generate revenue for discharge of the pension liabilities of the Government; [Gazette of Balochistan, Extraordinary, 18th September, 2007] No.Legis:4-105/Law/85, dated 18-9-2007.---The following Ordinance made by the Governor of Balochistan on 15th September, 2007, is hereby published for general information: Whereas it is expedient to establish an authority for management of a Pension Fund for the common benefit of the employees of the Provincial Government to provide for their Pension and provide for matters connected therewith on indicate thereto; And whereas the Provincial Assembly is not in session, the Governor is satisfied that circumstances exist which render it necessary to take immediate Ordinance: Now, therefore in exercise of powers conferred by clause (1) of Article 128 of the Constitution of Islamic Republic of Pakistan, the Governor of Balochistan is pleased to make and promulgate the following Ordinance:-- It is hereby enacted as follows:-- Preamble.--Whereas it is expedient to establish a Fund for management of the pension liabilities of the Government and to make provisions for matters ancillary thereto; It is hereby enacted as follows:-- CHAPTER-III RESERVE AND PENSION FUNDS 7. Fund Manager.---(1) The Government shall, by notification, appoint the Fund Manager for management of the Fund. (2) The qualification for a person to be appointed as the Fund Manager shall be 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 Ordinance and the rules, 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 period to 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.