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The Micro, Small and Medium Enterprises Development Act, 2006

Contents

 

Sections

Particulars

Chapter I

Preliminary

1

Short title and commencement

2

Definitions

Chapter II

National Board for Micro, Small and Medium Enterprises

3

Establishment of Board

4

Removal of member from Board

5

Functions of Board

6

Powers and functions of member-secretary of board

Chapter III

Classification of Enterprises, Advisory Committee and Memorandum of Micro, Small and Medium Enterprises

7

Classification of enterprises

8

Memorandum of micro, small and medium enterprises

Chapter III

Measures For Promotion, Development and Enhancement of Competitiveness of Micro, Small and Medium Enterprises

9

Measures for promotion and development

10

Credit facilities

11

Procurement preference policy

12

Funds

13

Grants by Central Government

14

Administration and utilisation of Fund or Funds

Chapter IV

Delayed Payments to Micro and Small Enterprises

15

Liability of buyer to make payment

16

Date from which and rate at which interest is payable

17

Recovery of amount due

18

Reference to micro and small enterprises facilitation council

19

Application for setting aside decree, award or order

20

Establishment of micro and small enterprises facilitation council

21

Composition of micro and small enterprises facilitation council

22

Requirement to specify unpaid amount with interest in the annual statement of accounts

23

Interest not to be allowed as deduction from income

24

Overriding effect

25

Scheme for closure of business of micro, small and medium enterprises

Chapter VI

Miscellaneous

26

Appointment of officers and other employees

27

Penalty for contravention of section 8 or section 22 or section 26

28

Jurisdiction of courts

29

Jurisdiction of courts

30

Power to make rules by State Government

31

Power to remove difficulties

32

Repeal of Act

The Micro, Small and Medium Enterprises Development Act, 2006

THE MICRO, SMALL AND MEDIUM ENTERPRISES DEVELOPMENT ACT, 2006 No. 27 of 2006 [16th June, 2006.] An Act to provide for facilitating the promotion and development and enhancing the competitiveness of micro, small and medium enterprises and for matters connected therewith or incidental thereto.

Whereas a declaration as to expediency of control of certain industries by the Union was made under section 2 of the Industries (Development and Regulation) Act, 1951; And whereas it is expedient to provide for facilitating the promotion and development and enhancing the competitiveness of micro, small and medium enterprises and for matters connected therewith or incidental thereto; Be it enacted by Parliament in the Fifty-seventh Year of the Republic of India as follows:



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