Rule 6 - Powers And Functions - Special Economic Zone Authority Rules, 2009

CHAPTER III Powers And Functions 6. (1) The Authority shall, - (i) take all necessary measures for efficient management of the Zone and develop it as a financially viable organisation; (ii) prepare its returns and statements before the commencement of each financial year; (iii) decide the terms and conditions and remuneration for engagement of a Chartered Accountant for maintenance and finalisation of its accounts; (iv) approve the audited statements of its accounts pertaining to a financial year before the 30th September of the following financial year; and (v) have powers to raise resources in a manner consistent with provisions of the SEZ Act and Rules framed thereunder. (2) The Authority shall prepare perspective plans for future expansion and shall undertake works of capital nature. (3) Each Authority shall have the powers to implement schemes for health and life insurance, contributory pension, housing and leave travel, if deemed necessary for the welfare of its employees in collaboration with the private or public sector agencies, wherever applicable: Provided that the expenditure on such schemes shall not exceed five per cent of its own revenues accrued during the previous financial year. (4) The Authority may designate the Secretary or one of its officers to be the authorised signatory for specific purposes permitting the use of facsimile of its common seal for authentication of relevant documents. (5) The Authority shall have its name engraved in legible characters on its seal. (6) The Authority shall have its name and address of its head office and branch office(s) mentioned in all its business letters, bill/Invoice, letter heads, notices, official publications, contracts and other instruments. (7) The Common seal of the Authority shall be in the custody of the Chairperson or in the custody of an officer of the Authority designated for the purpose by the Authority.