Section 10E: Power to issue directions

10E. Power to issue directions.__ (1) For furthering the objectives of this Chapter, the SIFC may, as and when it considers necessary, issue recommendation, advice of directions to the respective regulatory bodies, authorities public sector entities, divisions and departments of the Federal Government, on matters within their respective domains, which shall, to the extent not inconsistent with applicable law be binding. (2) SIFC shall have powers to summon any regulatory bodies, authorities, public sector entities, divisions and departments of the Federal Government, or a representative thereof, in case requisite regulatory licenses, certificates and/or any other legal permits and permissions required to commence, foster or grow investment operations are delayed unnecessarily which may hamper investor (s) sentiment and inflow of investment (3) Powers specified in sub-sections (1) and (2) shall mutatis mutandis be exercisable by SIFC in respect of projects referred to the SIFC by the Provincial Government.

Effective date: 2001-01-01

Related sections