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Azad Jammu and Kashmir Privatization Commission Ordinance, 2012

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[Ordinance I of 2012]

An

Ordinance

To provide for the establishment of the Privatization Commission in Azad Jammu and Kashmir

Whereas, it is expedient to provide for the establishment of the AJ&K Privatization Commission for carrying out a competitive, fair and transparent process for effecting privatization of the properties of the Government and to provide for an expeditious mechanism to resolve disputes relating to privatization and to provide for ancillary matters;

And whereas, the Legislative Assembly is not in session and the President is satisfied that circumstances exist which render it necessary to take immediate action;

Now, therefore, in exercise of the powers conferred by sub-section (1) of Section 41 of Azad Jammu and Kashmir Interim Constitution Act, 1974, the President is pleased to make and promulgate the following Ordinance:-

Chapter-I

General

1. Short title, extent and commencement:- (1) This Ordinance may be called as the Azad Jammu and Kashmir Privatization Commission Ordinance, 2012.

(2) It shall extend to whole of Azad Jammu and Kashmir

(3) It shall come into force at once.

2. Definitions:- In this Ordinance, unless there is anything repugnant in the subject or context, the following expressions shall have the meanings as hereby respectively assigned to them:-

  1. "Commission" means the Azad Jammu and Kashmir Privatization Commission established under section 3;

  2. "Commission Fund" means the Fund of the Commission established under section 20;

  3. "Chairman" means the Chairman of the Commission;

  4. "Enterprise" means a company, a cooperative society or any other person;

  5. "Family" means a spouse, a parent, a grand parent, a sibling or an adopted sibling, a child or an adopted child, an uncle or an aunt, a maternal or paternal first cousin, or any of these relatives of the spouse;

    (f) "Financial Year" means the year starting on the 1st July and ending on 30th June of each year;

    (g) "Government" means the Azad Government of the State of Jammu and Kashmir;

    (h) "Member" means a Member of the Commission;

    (i) "Person" includes an individual, partnership, trust, company, association of persons, body corporate, body of individuals, whether or not having separate legal entity, other than the Government;

    (j) "Prescribed" means prescribed by the rules or the regulations;

    (k) "Privatization" includes a transaction by virtue of which any property, right, interest, concession, or management thereof or any enterprise, wholly or partially, owned by the Government, is transferred to any person under the provisions of the Ordinance;

    (l) "Property" means a property owned by the Government and includes any right, title or interest in property, movable or immovable, and in whole or in part, or any instruments of production or any enterprise, wholly or partially, owned by the Government;

    (m) "Regulations" means the regulations framed under section 43;

    (n) "Rules" means the rules made under section 42;

    (o) "Secretary" means the Secretary of the Commission; and

    (p) "Staff" means an employee of the Commission and includes a deputationist, advisor, consultant, auditor, and a contract employee.

    Chapter-II

    AJ&K Privatization Commission

    3. AJ&K Privatization Commission:- (1) The Government shall, by notification in the Gazette, establish a Commission, to be called the AJ&K Privatization Commission.

    (2) The Commission shall be a body corporate having perpetual succession and a common seal, with power, subject to the provisions of this Ordinance, to enter into agreement, acquire, hold, manage, and dispose of property, and to sue and be sued in its name.

    (3) The principal office of the Commission shall be at Muzaffarabad, but the Commission may establish its regional offices at such other places in the AJ&K as it may consider necessary for the accomplishment of the objectives of this Ordinance.

    4. Composition of the Commission:- (1) The Commission shall consist of following Chairman and Members:-

  6. Chief Secretary, GoAJ&K Chairman

  7. Additional Chief Secretary (Dev) Member

  8. Senior Member Board of Revenue Member

  9. Secretary Finance Member

  10. Secretary Law Member

  11. Secretary concerned Member

  12. Commissioner Concerned Division Member

  13. Managing Director, Member

    The Bank of AJ&K

  14. Secretary of the Commission Member/Secretary

    (2) The Chairman may co-opt any other person as Member either for a particular meeting or purpose, or for a specified period.

    6. Functions of the Commission:- (1) The Commission shall:-

    (a) Recommend privatization policy guidelines to the Government;

    (b) Prepare for the approval of the Government a comprehensive privatization programme;

    (c) Plan, manage, coordinate, implement, and control the privatization programme approved by the Government;

    (d) Provide overall directions for the implementation of the privatization related activities including restructuring, deregulation, and post-privatization matters in the sectors designated by the Government;

    (e) Take operational decisions on matters pertaining to the privatization;

    (f) Issue directions and instructions for the management of a business, commercial or industrial undertaking falling within the purview of the privatization programme approved by the Government;

    (g) Publicize the activities of the privatization programme;

    (h) Approve the reserve and base price of the assets and properties to be privatized;

    (i) Determine, with the prior approval of the Government, the final price of the property;

    (j) Envisage, approve and take decisions and perform all acts to implement the pre-privatization restructuring, labour rehabilitation, and severance schemes, and all other related matters as approved by the Government;

    (k) Appoint advisors, consultants, valuators, actuaries, lawyers, auditors, and such other staff as may be necessary for the discharge of its functions under this Ordinance, and determine the terms and conditions of such appointments;

    (l) Perform such other functions as may be incidental to carrying out the privatization programme;

    (m) Approve the budget estimates, the audited accounts, and the annual report of the Commission in accordance with the provisions of this Ordinance, the rules and the regulations;

    (n) Call for any information or direct any research to be made for the furtherance of the objective of this Ordinance; and

    (o) Frame the regulations.

    (2) In the discharge of its functions, the Commission shall be guided by such instructions on questions of policy as may be given to it by the Government.

    Chapter-III

    Management and Administration

    6. Secretariat:- (1) Board of Revenue shall be Secretariat of the Commission.

    (2) The Commission may appoint Secretary from amongst the officers of the Government.

    (3) The Secretary shall perform such functions as are assigned to him under this Ordinance or delegated by the Commission, as the case may be, and shall have such powers, including the powers of appointment, transfer, promotion, dismissal, and other matters affecting the staff and employees as may be prescribed.

    7. Committees:- The Commission may constitute committees of its Members and entrust them such functions and powers as it may deem fit.

    8. Meetings:- (1) The Commission shall regulate the procedure for its meetings.

    (2) A meeting of the Commission shall be held at such time and place as the Chairman or a majority of Members may from time to time determine.

    (3) Members shall have reasonable notice of the time and place of the meeting and the matters on which a decision by the Commission shall be taken in such a meeting.

    (4) The Chairman shall preside over a meeting of the Commission; and, in the absence of the Chairman, the Members present in the meeting may select an acting Chairman for that meeting.

    (5) Five Members, including the Chairman, shall constitute the quorum for a meeting of the Commission.

    (6) The Commission shall take decisions by the majority of its Members present and voting, and in case of a tie, the person presiding the meeting shall have a casting vote.

    (7) The Commission shall cause minutes to be kept of proceedings of every meeting of the Commission and...

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