Status of Port Authority as per Draft bill Major Port Authorities Act, 2016
Q. Which of the following is/are true regarding draft bill Major Port Authorities Act, 2016?
1) The status of Port Authority will be deemed as ‘local authority’.
2) The need for Government approvals for raising loans has been dispensed with.- Published on 21 Sep 16a. Only 1
b. Only 2
c. Both 1 and 2
d. Neither 1 nor 2
ANSWER: Both 1 and 2
- The status of Port Authority will be deemed as ‘local authority’ under the provisions of the General Clauses Act, 1887 & other applicable Statutes so that it could prepare appropriate regulations in respect of the area within the port limits to the exclusion of any Central, State of local laws.
- The need for Government approvals for raising loans, appointment of consultants, execution of contracts and creation of service posts have been dispensed with.
- The Board of Port Authority have been delegated power to raise loans and issue security for the purpose of capital expenditure and working capital requirement.
- Concept of internal audit of the functions and activities of the Central Ports has been introduced on the lines of Companies Act, 2015.
