Section 6 in The Punjab Backward Classes Land Development and Finance Corporation Act, 1976
6. Management.
(1)The general superintendence, direction and management of the affairs and business of the Corporation shall vest 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.(2)Subject to any rules made in this behalf, the Board may from time to time appoint one or more Committees for the purpose of securing the efficient discharge of its functions.(3)The Board in discharging its functions shall act on sound business principles having regard to public interest, welfare of Backward Classes and solvency of the Corporation and shall be guided by such instructions on questions of policy as may be given to it by the State Government.(4)If any doubt arises as to whether a question is or is not a question of policy, the decision of the State Government thereon shall be final.[7. Board of Directors. - (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 Schedule Caste and Backward Classes, Punjab, 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.][8. Term of office. - The term of office of the Directors other than the ex officio Directors and the Executive Director shall be one year and they shall be eligible for re-nomination.] [Vide Punjab Act No. 20 of 1981.]
