Act 27 of 2006

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.

Ministry of Micro, Small and Medium Enterprises
Enacted 2006-06-16
32 sections

Section	Title
1	Short title and commencement.	Read
2	Definitions.	Read
3	Establishment of Board.	Read
4	Removal of member from Board.	Read
5	Functions of Board.	Read
6	Powers and functions of Member-Secretary of Board.	Read
7	Classification of enterprises.	Read
8	Memorandum of micro, small and medium enterprises.	Read
9	Measures for promotion and development.	Read
10	Credit facilities.	Read
11	Procurement preference policy.	Read
12	Funds.	Read
13	Grants by Central Government.	Read
14	Administration and utilisation of Fund or Funds.	Read
15	Liability of buyer to make payment.	Read
16	Date from which and rate at which interest is payable.	Read
17	Recovery of amount due.	Read
18	Reference to Micro and small Enterprises Facilitation Council.	Read
19	Application for setting aside decree, award or order.	Read
20	Establishment of Micro and Small Enterprises Facilitation Council.	Read
21	Composition of Micro and Small Enterprises Facilitation Council.	Read
22	Requirement to specify unpaid amount with interest in the annual statement of accounts.	Read
23	Interest not to be allowed as deduction from income.	Read
24	Overriding effect.	Read
25	Scheme for closure of business of micro, small and medium enterprises.	Read
26	Appointment of Officers and other employees.	Read
27	Penalty for contravention of section 8 or section 22 or section 26.	Read
28	Jurisdiction of courts.	Read
29	Power to make rules.	Read
30	Power to make rules by State Government.	Read
31	Power to remove difficulties.	Read
32	Repeal of Act 32 of 1993.	Read