Section 48: Foreign Investment in Any Industry Registered in Province

1) If foreign investment or transfer of technology is to be made in any industry registered by the Government of a Province in accordance with the prevailing Federal or Provincial law, approval of the Department shall be obtained in accordance with this Act.

2) The certificate of registration of industry with the Province and recommendation of the Provincial ministry looking after the matters of industry, among other things, shall be submitted in order to obtain the approval in accordance with sub-section (1).

3) Other provisions relating to foreign investment in an industry registered in a Province shall be as prescribed.