Section 3: Establishment of the Board of Investment

3. Establishment of the Board of Investment.__ (1) There is hereby established a Board to be called the Board of Investment (BOI) for carrying out the purposes of this Ordinance. (2) The Board shall consist of__ (a) the Chief Executive of the Islamic Republic of Pakistan who shall be its President; (b) Federal Minister in Charge of the Division, to which the business relating to the BOI is allocated, who shall be its Vice-President; (c) Chairman of the BOI; and (d) not less than seven and not more than twenty-five ex-officio members and non- official members, provided that not less than three non-official members shall be appointed from private sector from amongst persons of renowned integrity, expertise, experience and knowledge including, inter alia, academia, science, agriculture, banking, business, commerce, economic, engineering, finance, industry, investment, law, marketing, mathematics, statistics and technology. (3) The ex officio and the non-official members shall be appointed by the Federal Government and the terms and conditions of non-official members shall be such as the Federal Government may determine by notification in the official gazette. (4) An ex officio member shall hold office as member till such time he holds the office by virtue of which he is a member and upon his transfer, retirement, resignation, or removal from office, the person appointed in such person's place shall be the member. (5) The headquarters of the Board shall be at Islamabad and it may, with the approval of the President, establish its regional offices or sub-offices within Pakistan and abroad.

Effective date: 2001-01-01

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