ACT XXX OF 2021
PUNJAB PRIVATIZATION BOARD
(REPEAL) ACT, 2021
An Act to repeal the Punjab Privatization Board Act, 2010
[Gazette of Punjab, Extraordinary, 1st October, 2021]
No. PAP/Legis-2(89)/2020/2639.–The Punjab Privatization Board (Repeal) Bill 2020, having been passed by the Provincial Assembly of the Punjab on September 27, 2021, and assented to by the Governor of the Punjab on October 01, 2021, is hereby published as an Act of the Provincial Assembly of the Punjab.
It is necessary to repeal the Punjab Privatization Board Act, 2010 (IV of 2010) for the purposes hereinafter appearing.
Be it enacted by Provincial Assembly of the Punjab as follows:
1. Short title and commencement.–(1) This Act may be cited as the Punjab Privatization Board (Repeal) Act, 2021.
(2) It shall come into force at once.
2. Repeal and saving.–(1) The Punjab Privatization Board Act, 2010 (IV of 2010) is hereby repealed.
(2) Notwithstanding the repeal of the Punjab Privatization Board Act, 2010 (IV of 2010), all the proceedings and processes pertaining to privatization of the Government properties, initiated or
completed, assessment of prices of properties made, auctions done, sanction orders issued, any appointment made, order passed, notification issued, contracts executed, rights acquired, liabilities incurred, possession of properties delivered and proceedings initiated before various courts or other forums and things done or action taken under any provision of the repealed Act shall continue to have effect unless repealed, recalled, withdrawn or cancelled.
3. Transition.–(1) All the properties, both urban and rural, including agricultural land, whether occupied and unoccupied, placed’ at the disposal of defunct Punjab Privatization Board, which may be available for disposal immediately before the repeal of the aforesaid Act, shall stand transferred to the Colonies Department! Board of Revenue, Punjab.
(2) The Secretary and other employees of the defunct Punjab Privatization Board, whether permanent or contractual, shall stand transferred to the Colonies Department, Board of Revenue, Punjab.
(3) All the moveable assets of defunct Punjab Privatization Board shall stand transferred to Colonies Department, Board of Revenue, Punjab.