(1) Every Approval Committee may discharge the functions and exercise the powers in respect of the following matters, namely:-
approve the import or procurement of goods from the Domestic Tariff Area, in the Special Economic Zone for carrying on the authorised operations by a Developer;
approve the providing of services by a service provider, from outside India, or from the Domestic Tariff Area, for carrying on the authorised operations by the Developer, in the Special Economic Zone;
monitor the utilisation of goods or services or warehousing or trading in the Special Economic Zone;
approve, modify or reject proposals for setting up Units for manufacturing or rendering services or warehousing or trading in the Special Economic Zone[ other than the grant of licence under clause (e) of sub- section (2) of section 9] in accordance with the provisions of sub- section (8) of section 15: Provided that where the Approval Committee is unable to decide whether a particular process constitutes manufacture or not it shall refer the same to the Board of Approval for decision;
allow, on receipt of approval under clause (c) of sub- section (2) of section 9, foreign collaborations and foreign direct investments (including investments by a person outside India) for setting up a Unit;
monitor and supervise compliance of conditions subject to which the letter of approval or permission, if any, has been granted to the Developer or entrepreneur; and
perform such other functions as may be entrusted to it by the Central Government or the State Government concerned, as the case may be.