Definitions

1[ 2. In this Act, unless there is anything repugnant in the subject or context

(a) “Authority” means the Bangladesh Export Processing Zones Authority established under section 3;

(b) “Board” means the Board of Governors of the Authority;

(c) “Executive Board” means the Executive Board of the Authority;

(d) “Executive Chairman” means the Executive Chairman of the Board;

(e) “prescribed” means prescribed by rules made under this Act; and

(f) “zone” means a place or places to be specified by the Government under section 10 as an export processing zone for the purposes of setting up export oriented industries.]

Establishment of the Authority

3. (1) As soon as may be after the commencement of this Act, the Government shall, by notification in the official Gazette, establish an Authority to be called the Bangladesh Export Processing Zones Authority for carrying out the purposes of this Act

(2) The Authority shall be a body corporate having perpetual succession and a common seal, with power to acquire, hold and dispose of property, both movable and immovable, and shall by the said name sue and be sued.

General

2[ 3A. (1) The general direction and administration of the

direction

affairs of the Authority shall vest in the Executive Board which may, subject to sub-section (2), exercise all powers and do all acts and things as may be exercised or done by the Authority..

(2) The Executive Board, in discharging its functions, shall act in accordance with the guidance, order and instructions given by the Board of Governors of the Authority from time to time.]

Head office, etc

4. (1) The Head office of the Authority shall be located at Chittagong.

(2) The Authority may establish its offices and branches at such places as it may deem fit.

Objects of the Authority

3[ 4A. The objects of the Authority shall be

(a) to foster and generate economic development of Bangladesh by encouraging and promoting foreign investments in a Zone;

(b) to diversify the sources of foreign exchange earnings by increasing export of Bangladesh through a Zone 4[ ;

(c) to encourage and foster the establishment and development of industries and commercial enterprises in a zone in order to widen and strengthen the economic base of Bangladesh;

(d) to generate productive employment opportunity and to upgrade labour and management skills through acquisition of advanced technology.

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