Special Economic Zone or SEZ means a geographically defined and delimited area which has been approved by the Board of Approvals headed by the Prime Minister. The SEZ Act was promulgated on September 13, 2012 and amended in 2016. The law provides SEZs to be set up by the Federal or Provincial Governments themselves or in collaboration with the private sector under different modes of public-private partnership or exclusively through the private sector. The provincial SEZ authorities are required to move the applications received from developers to the Federal Board of Investment which is to act as the secretariat to the Approval committee and the Board of Approval. Minimum land requirement for an SEZ is 50 acres (20.23 hectors or 202,343 Sq m) with no maximum limit.