Bare Acts

The Micro, Small and Medium Enterprises Development 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.

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Act Details

Act Number:

Act Year:

2006

Location:

Chhattisgarh

Enactment Date:

6/16/2006

Enforcement Date:

02-10-2006

Department:

Department of COMMERCE AND INDUSTRIES

All Section List (MSMED)

PRELIMINARY

Section 1 to Section 2

Section 1

Short title and commencement.

Section 2

Definitions.

NATIONAL BOARD FOR MICRO, SMALL AND MEDIUM ENTERPRISES

Section 3 to Section 6

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.

CLASSIFICATION OF ENTERPRISES, ADVISORY COMMITTEE AND MEMORANDUM OF MICRO, SMALL AND MEDIUM ENTERPRISES

Section 7 to Section 8

Section 7

Classification of enterprises.

Section 8

Memorandum of micro, small and medium enterprises.

MEASURES FOR PROMOTION, DEVELOPMENT AND ENHANCEMENT OF COMPETITIVENESS OF MICRO, SMALL AND MEDIUM ENTERPRISES

Section 9 to Section 14

Section 9

Measures for promotion and development.

Section 10

Credit facilities.

Section 11

Procurement preference policy.

Section 12

Funds.

Section 13

Grants by Central Government.

Section 14

Administration and utilisation of Fund or Funds.

DELAYED PAYMENTS TO MICRO AND SMALL ENTERPRISES

Section 15 to Section 25

Section 15

Liability of buyer to make payment.

Section 16

Date from which and rate at which interest is payable.

Section 17

Recovery of amount due.

Section 18

Reference to Micro and small Enterprises Facilitation Council.

Section 19

Application for setting aside decree, award or order.

Section 20

Establishment of Micro and Small Enterprises Facilitation Council.

Section 21

Composition of Micro and Small Enterprises Facilitation Council.

Section 22

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

Section 23

Interest not to be allowed as deduction from income.

Section 24

Overriding effect.

Section 25

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

MISCELLANEOUS

Section 26 to Section 32

Section 26

Appointment of Officers and other employees.

Section 27

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

Section 28

Jurisdiction of courts.

Section 29

Power to make rules.

Section 30

Power to make rules by State Government.

Section 31

Power to remove difficulties.

Section 32

Repeal of Act 32 of 1993.