Board of Directors

MANAGEMENT OF THE CORPORATION

                   Under Section 6(1) of the Act the general superintendence, direction and management of the affairs and business of the Corporation is vested in a Board which may exercise all such powers and do all such acts and things as may be exercised or done by the Corporation under this Act

                   Section 7 of the act prescribes the composition of the Board of Directors as under :-

   “(1)    The Board shall consist of an Executive Director appointed under Section 13 and the following other directors :

(a)The Secretary to Government of Punjab in the Department of Welfare or an Officer of that Department not below the rank of Deputy Secretary nominated by him, ex-officio :

(b)The Secretary to Government of Punjab in the Department of Finance or an Officer of that Department not below the rank of Deputy Secretary nominated by him, ex-officio :

(c)The Secretary to Government of Punjab in the Department of Agriculture  or an Officer of that Department not below the rank of Deputy Secretary nominated by him, ex-officio :

(d)The Secretary to Government of Punjab in the Department of Industries or an Officer of that Department not below the rank of Deputy Secretary nominated by him, ex-officio :

  (dd) The Director Welfare of SCs and BCs Pb, Ex-officio.

(e)Four directors to be nominated by the State Government from amongst persons belonging to Backward Classes who have special knowledge of agriculture, agro-industries, water development projects, finance or co-operation”.

(2)The State Government shall appoint one of the directors as Chairman.

(3)On the occurrence of any vacancy in the office of a director dueto death, resignation or otherwise the same shall be filled up by the State Government in the manner provided in sub-section(1).

(4)     Subject to the provisions of this Act, the terms and conditions of appointment of the directors and the fees and allowances payable to them, shall be such as may be prescribed.