Micro, Small and Medium Enterprises Development Act, 2006
Bare Act · 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.
- Act number
- 27 of 2006
- Enacted
- 16 June 2006
- Contents
- 35 sections · 6 chapters
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Contents
Chapter I — Preliminary
Chapter II — Nationalboard For Micro, Small And Medium Enterprises
- Section 3 – Establishment of Board
- Section 4 – Removal of member from Board
- Section 5 – Functions of Board
- Section 6 – Powers and functions of Member-Secretary of Board (preview)
Chapter III — Classification Of Enterprises, Advisory Committee Andmemorandum Of Micro, Small And Medium Enterprises
- Section 7 – Classification of enterprises (preview)
- Section 8 – Memorandum of micro, small and medium enterprises (preview)
Chapter IV — Measures For Promotion, Development And Enhancement Ofcompetitiveness Of Micro, Small And Medium Enterprises
- Section 9 – Measures for promotion and development (preview)
- Section 10 – Credit facilities (preview)
- Section 11 – Procurement preference policy (preview)
- Section 12 – Funds (preview)
- Section 13 – Grants by Central Government (preview)
- Section 14 – Administration and utilisation of Fund or Funds (preview)
Chapter V — Delayed Payments To Micro And Small Enterprises
- Section 15 – Liability of buyer to make payment (preview)
- Section 15A – Mandatory settlement of receivables through Trade Receivables Discounting System (preview)
- Section 16 – Date from which and rate at which interest is payable (preview)
- Section 17 – Recovery of amount due (preview)
- Section 18 – Reference to Micro and small Enterprises Facilitation Council (preview)
- Section 19 – Application for setting aside decree, award or order (preview)
- Section 20 – Establishment of Micro and Small Enterprises Facilitation Council (preview)
- Section 21 – Composition of Micro and Small Enterprises Facilitation Council (preview)
- Section 22 – Requirement to specify unpaid amount with interest in the annual statement of accounts (preview)
- Section 22A – Reporting of compliance (preview)
- Section 23 – Interest not to be allowed as deduction from income (preview)
- Section 24 – Overriding effect (preview)
- Section 25 – Scheme for closure of business of micro, small and medium enterprises (preview)
Chapter VI — Miscellaneous
- Section 26 – Appointment of Officers and other employees (preview)
- Section 27 – Penalty for contravention of section 8 or section 22 or section 26 (preview)
- Section 27A – Adjudication of penalties (preview)
- Section 28 – Jurisdiction of courts (preview)
- Section 29 – Power to make rules (preview)
- Section 30 – Power to make rules by State Government (preview)
- Section 31 – Power to remove difficulties (preview)
- Section 32 – Repeal of Act 32 of 1993 (preview)