Section 11: Delegation of powers

11. Delegation of powers (1) Subject to subsection (2) and to such instructions and rules of a general nature, as it may give or make, the Board may delegate to the Chairperson or the Managing Director such of its powers and functions under this Act as may be necessary to assist in the effective management of the Board of Investment other than the power— (a) to borrow money; (b) to raise loans; (c) to enter into any transaction in respect of capital expenditure which exceeds one million rupees. (2) No document shall be executed or signed by or on behalf of the Board of Investment, unless it is signed by the Chairperson and the Managing Director, or, in the absence of the Chairperson, any other member appointed by the Board for that purpose. I22 – 7 [Issue 9] Investment Promotion Act PART III – REGISTRATION WITH BOARD OF INVESTMENT [Part III repealed and replaced by s. 6 (d) of Act 21 of 2006 w.e.f. 1 October 2006; amended by s. 31 (b) of Act 9 of 2015 w.e.f. 14 May 2015; s. 29 (b) of Act 18 of 2016 w.e.f. 7 September 2016.]