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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

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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